Piper Sandler Reiterates Neutral Rating for Collegium Pharmaceutical (NASDAQ:COLL)

Key Points

• Piper Sandler reiterated its Neutral rating on Collegium Pharmaceutical but lowered its price target to $43 from $45, still implying roughly 49% upside from the $28.90 share price.
• Collegium exceeded second-quarter expectations with adjusted EPS of $1.92 and revenue of $199.9 million, while JORNAY PM and AZSTARYS drove growth in its ADHD portfolio.
• Despite the earnings beat, the company reduced 2026 revenue and adjusted EBITDA guidance, as pain-product sales weakened and Nucynta and Xtampza ER revenue declined.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $43.00 price target on the specialty pharmaceutical company's stock, down from their prior price target of $45.00. Piper Sandler's price objective points to a potential upside of 48.81% from the company's current price.

Other research analysts have also issued research reports about the company. Zacks Research lowered Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Collegium Pharmaceutical in a research note on Monday, July 6th. Truist Financial upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating in a research report on Monday, June 15th. Finally, Needham & Company LLC reduced their target price on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a "buy" rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Collegium Pharmaceutical has an average rating of "Moderate Buy" and an average target price of $52.60.

Collegium Pharmaceutical Stock Performance

Shares of NASDAQ COLL traded down $0.21 during midday trading on Friday, reaching $28.90. 442,488 shares of the company were exchanged, compared to its average volume of 479,968. The company has a current ratio of 1.71, a quick ratio of 1.62 and a debt-to-equity ratio of 2.47. Collegium Pharmaceutical has a 1 year low of $28.01 and a 1 year high of $50.79. The stock has a fifty day simple moving average of $34.86 and a 200 day simple moving average of $37.13. The stock has a market cap of $937.10 million, a P/E ratio of 14.17 and a beta of 0.73.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The firm had revenue of $199.88 million for the quarter, compared to analysts' expectations of $199.62 million. Collegium Pharmaceutical had a return on equity of 95.18% and a net margin of 9.41%.The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. On average, research analysts forecast that Collegium Pharmaceutical will post 6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Collegium Pharmaceutical in the second quarter worth $196,972,000. Deutsche Bank AG purchased a new stake in shares of Collegium Pharmaceutical during the 2nd quarter worth $1,270,000. Bank of New York Mellon Corp purchased a new stake in shares of Collegium Pharmaceutical during the 2nd quarter worth $8,506,000. State of Wyoming acquired a new position in shares of Collegium Pharmaceutical during the 2nd quarter worth $218,000. Finally, One Wealth Advisors LLC acquired a new position in shares of Collegium Pharmaceutical during the 2nd quarter worth $310,000.

Key Headlines Impacting Collegium Pharmaceutical

Here are the key news stories impacting Collegium Pharmaceutical this week:

• Positive Sentiment: Collegium reported second-quarter adjusted EPS of $1.92, above the roughly $1.68-$1.72 analyst estimates and up from $1.68 a year earlier. Revenue reached $199.9 million, up 6% year over year and broadly in line with estimates. Collegium Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The ADHD portfolio continued to grow: JORNAY PM revenue increased 41% to $46.1 million, while the newly acquired AZSTARYS contributed $12.9 million during its partial quarter. Collegium also raised its 2026 AZSTARYS revenue outlook to $65 million-$75 million from $60 million-$70 million. 2026 Q2 Results Earnings Presentation
• Positive Sentiment: Operating cash flow was a solid $71.3 million, and adjusted EBITDA rose 8% year over year to $113.8 million, supporting the company’s ability to integrate AZSTARYS and invest in growth.
• Neutral Sentiment: Needham lowered its price target to $46 from $56 but maintained a Buy rating, implying substantial long-term upside despite reduced near-term expectations. Needham Price Target Update
• Negative Sentiment: Collegium cut 2026 product revenue guidance to $825 million-$855 million from $865 million-$895 million, below the approximately $872.4 million consensus estimate. Adjusted EBITDA guidance also fell to $445 million-$470 million from $475 million-$500 million, primarily because of lower pricing and sales for authorized generic Nucynta products.
• Negative Sentiment: The pain portfolio declined 9% year over year to $140.9 million; Nucynta franchise revenue fell 24% and Xtampza ER revenue fell 14%. GAAP results also showed a $15.1 million net loss, while operating expenses increased 45%, partly reflecting acquisition-related costs. Collegium Q2 Earnings and Guidance
• Negative Sentiment: An analyst downgrade contributed to the shares reaching a new 12-month low, reinforcing concerns about slowing pain-product sales and the lowered outlook. Collegium Hits New 12-Month Low on Analyst Downgrade

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company's core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company's principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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