In a report released yesterday, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on Collegium Pharmaceutical (COLL), with a price target of $35. The company’s shares closed yesterday at $14.45, close to its 52-week low of $13.10.
Folkes said:
“. Post 4Q18, we are reiterating our Overweight rating and 12- month price target of $35 on COLL shares. We remain positive on the long-term growth potential of Xtampza, which we expect to be the leading branded extended- release oxycodone over time. We believe that Collegium will build itself into one of the leading pain-focused companies, and management echoed this on the call, noting it is looking to acquire additional assets to meet this goal. Collegium has made good progress with its exclusive contracting approach on Xtampza to-date, and year-to- date scripts for Xtampza are tracking in line with our estimates for the full year.”
According to TipRanks.com, Folkes is a 3-star analyst with an average return of 2.1% and a 38.8% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and ANI Pharmaceuticals Inc.
Currently, the analyst consensus on Collegium Pharmaceutical is a Strong Buy with an average price target of $33.33.
See today’s analyst top recommended stocks >>
The company has a one-year high of $29.90 and a one-year low of $13.10. Currently, Collegium Pharmaceutical has an average volume of 417K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Collegium Pharmaceutical, Inc. operates as a pharmaceutical company, which engages in the developing and planning to commercialize next generation, abuse-deterrent products for the treatment of patients suffering from chronic pain and other diseases. Its products include Xtampza ER, Nucynta® ER and Nucynta.
