Collegium Pharmaceutical Receives a Buy from Jefferies

By Austin Angelo

Jefferies analyst David Steinberg reiterated a Buy rating on Collegium Pharmaceutical (NASDAQ: COLL) today and set a price target of $24. The company’s shares closed yesterday at $16.84.

Steinberg noted:

“Higher than projected SG&A spend led to a modestly higher loss ($26M) than we had expected. Importantly, the co now has sufficient cash for operations into 2019 following a recent $80M financing. Based on progress in the commercial launch and recent formulary wins, we believe Xtampza Rxs are positioned for an inflection in 1H17.”

According to, Steinberg is ranked 0 out of 5 stars with an average return of -4.2% and a 38.5% success rate. Steinberg covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.

Collegium Pharmaceutical has an analyst consensus of Strong Buy, with a price target consensus of $30.

Based on Collegium Pharmaceutical’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $0 and GAAP net loss of $24.52 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $9.36 million.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COLL in relation to earlier this year.

Collegium Pharmaceutical, Inc. is a clinical-stage pharmaceutical company, which focuses on the development of proprietary, late stage pharmaceutical products. These products target market opportunities through formulation based product improvements protected by intellectual property. The company builds a portfolio of pain products that incorporate its patent protected DETERx formulation platform that provides for extended release and tamper resistance. Collegium Pharmaceutical was founded by Michael Thomas Heffernan in October 2003 and is headquartered in Canton, MA.