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/COLL
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Collegium Pharmaceutical Inc

Collegium Pharmaceutical Inc

COLL
$36.08USD↓-0.52%-0.19 today

MARKET CAP

1.2B

P/E (TTM)

4.7x

FWD P/E

4.7x

DAY RANGE

$36 – $37

52W RANGE

$29
$51

AI Summary

Stalk
Buy NowMedium

In Stage 2 advancing, COLL has pulled back into the rising 9/21/50 EMA zone and is holding above these EMAs with neutral momentum readings, presenting a favorable buy entry. Medium- and long-term biases remain bullish, supported by higher-highs and higher-lows structure and an intact uptrend above the 200 DMA. Execution is to buy now on this pullback, while monitoring EMA support integrity and overhead resistance at the 200 DMA.

  • ↑Q1 net product revenues rose 9% YoY to $193.5M; Jornay PM guidance of $190–$200M implies 31% growth
  • ↑Astaris acquisition expected to contribute ~$50M in H2 net revenues plus >$50M in synergies
  • ↓Operating expenses climbed 80% YoY to $75.6M, pressuring margins and profitability
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Collegium Pharmaceutical, Inc. (NASDAQ: COLL) is a biopharmaceutical company specializing in innovative pain management solutions and treatments for Attention-Deficit Hyperactivity Disorder (ADHD). The company is focused on delivering responsible pain management through its diversified product portfolio, including its flagship product, Jornay PM. With a commitment to improving patient care and maximizing shareholder value through strategic endeavors, Collegium is well-positioned to capitalize on growth opportunities in these high-demand areas.

Bull says

  • ↑Q1 net product revenues rose 9% YoY to $193.5M; Jornay PM guidance of $190–$200M implies 31% growth
  • ↑Astaris acquisition expected to contribute ~$50M in H2 net revenues plus >$50M in synergies
  • ↑Prescriber base hit ~30,000, boosting ADHD market share with once-daily evening dosing
  • ↑Ended Q1 with $421.8M cash and projected net leverage under 1× post-debt repayment
  • ↑Consensus Buy with $54.33 avg. price target, implying ~52% upside
  • ↑High earnings yield and strong momentum factors support valuation

Bear says

  • ↓Operating expenses climbed 80% YoY to $75.6M, pressuring margins and profitability
  • ↓Generic entry risk could erode pricing power in ADHD and pain portfolios
  • ↓Post-closing net debt to adjusted EBITDA near 2×, increasing financial leverage
  • ↓Low 13F ownership score signals limited institutional confidence
  • ↓Heavy reliance on ADHD prescriptions concentrates revenue risk
  • ↓Mixed momentum and elevated volatility suggest near-term uncertainty

Investment themes with COLL

Pharmaceuticals↓ -1.67%

Drug development driving global healthcare solutions

JNJ · LLY · RPRX

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-08-2026neutral

Transcript signals

Bull points

  • Our lead growth driver, Jorn APM, is off to a strong start to the year, building on the positive momentum we generated in 2025.
  • We're highly encouraged by the latest market research, which shows that HCP awareness of Journée has significantly improved since last year. Unaided recall among targeted HCPs increased to 67%, up from 52%, approaching the awareness levels of established brands like Byvance and Concerta.
  • We were particularly pleased to see that Collegium was ranked number one in reputation among pharmaceutical companies specializing in ADHD.

Bear points

  • Overall, performance across the pain portfolio was positive, reinforcing our belief that the life cycle of these medicines may prove to be longer and more robust than is currently appreciated in the market.
  • Gap operating expenses were $86.4 million in the quarter, up 14% year-over-year.
  • Non-gap adjusted operating expenses were $69.3 million in the quarter, up 11% year-over-year.
Read full transcript analysis ›