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what it is
Assertio buys or licenses approved drugs, then tries to sell them harder with a 58-person commercial team.
how it gets paid
Last year Assertio made $125M in revenue. hospital was the main engine at $56.0M, or 45% of sales.
what just happened
Revenue hit $105M, but EPS landed at -$0.19 and the business still looks fragile.
At a glance
C+ balance sheet — struggling to keep the lights on
10/100 earnings predictability — expect surprises
38.9% return on capital — every dollar works hard here
-$3.45 fy2024 eps est
$125M fy2024 rev est
xvary composite: 22/100 — weak
What they do
Assertio buys or licenses approved drugs, then tries to sell them harder with a 58-person commercial team.
This company sells approved drugs now, not science projects that may pay off years later. With just 58 employees, it can plug acquired products into a tiny sales machine fast, which means your upside comes from commercial speed, not lab risk. The edge is simple: buy assets already on the shelf, then squeeze more dollars out of them.
How they make money
$125M
annual revenue
hospital
$56.0M
+113.0%
pain and inflammation
$31.0M
23.1%
neurology
$24.0M
23.1%
other branded products
$14.0M
23.1%
The products that matter
growth drug carrying the thesis
rolvedon
central to the $110M–$125M annual net product sales target
This is the product that has to prove the turnaround works. Management's annual sales target hinges on it doing enough heavy lifting to offset weakness elsewhere.
prove-it asset
older products facing generic erosion
indocin & legacy portfolio
additional generic competition expected in 2026
These products helped fund the company before Rolvedon became the whole conversation. The catch is simple: if generics hit faster than Rolvedon ramps, the revenue base shrinks before the replacement plan is ready.
declining base
Key numbers
38%
debt/capital
Debt equals 38% of capital. Plain English: lenders already own a chunky piece of the stack, so your common stock has less room for errors.
19.6%
operating margin
Operating margin means profit after running the business. Plain English: the core machine lost about 20 cents for every $1 of sales.
$125M
ttm revenue
Revenue is the money coming in. Plain English: this is a tiny pharma company trying to support itself on just $125M of annual sales.
1.7
beta
Beta measures how jumpy a stock is versus the market. Plain English: if the market sneezes, this one tends to fall out a window.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $45M (38% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for ASRT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $105M, but EPS landed at -$0.19 and the business still looks fragile.
Sales jumped 113% vs. prior year in the latest quarter, while gross margin reached 75% versus 61% a year earlier. The quiet part is that full-year base data still shows a -19.6% operating margin, so one strong quarter did not fix the whole machine.
$105M
revenue
$0.19
eps
75%
gross margin
the number that mattered
The 75% gross margin mattered most because gross margin means sales left after product costs. Plain English: the portfolio mix finally looked like it can support profits if revenue holds.
source: company earnings report, 2026
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What could go wrong
Assertio's main risk is unusually specific: Rolvedon has to replace revenue before 2026 generics take more away. The stock trading at $74M against $125M in revenue says investors already think the handoff might fail.
med
Rolvedon misses the handoff
If the product meant to carry the turnaround undershoots, the rest of the portfolio does not offer much backup. This is the danger of a narrow thesis: there are not many spare engines.
The annual net product sales target is $110M–$125M. Fall short and the sub-1x sales multiple looks less like mispricing and more like the market doing basic math.
med
Legacy erosion speeds up
Management already expects additional generic competition in 2026. Older products are shifting from support system to drag, and that shift rarely waits for a turnaround to feel ready.
If legacy decline arrives faster than expected, revenue pressure hits before the new plan is fully standing on its own. That is how a transition story turns into a shrinking-company story.
med
Balance-sheet flexibility runs thin
A C+ balance sheet and $45M of long-term debt do not leave much room for repeated misses, especially with price stability at 5 / 100 and the stock already badly damaged.
This debt equals 38% of capital. When investor trust is already low, financing pressure turns an operating miss into an equity problem very quickly.
You are not buying safety here. You are buying a $74M company with $45M of debt and a recent -19.6% operating margin.
source: institutional data · regulatory filings · risk analysis
Pay attention to
sales target
Whether quarterly results keep the company inside its $110M–$125M annual net product sales range
That range is the scoreboard. If results slip below it, you learn the low valuation was warning you, not inviting you in.
generic pressure
How much faster the legacy portfolio weakens once additional generic competition arrives in 2026
Rolvedon does not need to be perfect. It just needs to outrun the decline elsewhere. If it cannot, the whole handoff breaks.
leadership
Whether the new CEO turns a late-2025 transition into cleaner execution
Mark Reisenauer inherited a stock with almost no margin for error. You want fewer promises and more quarters where product sales actually hold up.
market signal
Whether the share price can stop trading like a broken turnaround
Price stability is 5 / 100 and the stock sits about 95% below its 52-week high. Until that behavior improves, the market is still voting against the thesis every day.
Analyst rankings
earnings predictability
10 / 100
earnings are hard to model here. in human-speak, you should expect surprises and they usually do not arrive politely.
balance sheet grade
C+
Below-average balance-sheet quality. The company can operate, but it does not have the luxury of repeated misses.
risk profile
5
A rank of 5 puts ASRT near the risky end of the spectrum. You are being paid with volatility, not comfort.
coverage depth
thin
When a $74M stock has limited clean ranking and target data, you should trust the operating numbers more than the commentary around them.
source: institutional data
Institutional activity
institutional ownership data for ASRT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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