After Piper Jaffray and H.C. Wainwright gave Collegium Pharmaceutical (NASDAQ: COLL) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Brandon Folkes reiterated a Buy rating on Collegium Pharmaceutical today and set a price target of $35. The company’s shares closed yesterday at $18.98.
Folkes wrote:
“. Post a recent day of meetings with CEO Joe Ciaffoni and CFO Paul Brannelly, we are reiterating our Overweight rating and 12-month price target of $35. We believe the Xtampza growth trajectory in mid-2018 has resulted in COLL stock turning into a week-by-week execution story, with investors continuing to miss the longer-term fundamental growth prospects of Xtampza and the company. We believe that Xtampza will replace OxyContin as the largest branded oxycodone ER product over time and that COLL will build itself into one of the leading specialist pain companies.”
According to TipRanks.com, Folkes is a 2-star analyst with an average return of -0.1% and a 36.8% 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 $32.67, which is a 72.1% upside from current levels. In a report issued on November 21, H.C. Wainwright also maintained a Buy rating on the stock with a $32 price target.
.
See today’s analyst top recommended stocks >>
Based on Collegium Pharmaceutical’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $16.5 million. In comparison, last year the company had a GAAP net loss of $13.26 million.
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. engages in the development and commercialization of next-generation, abuse-deterrent products that incorporate its patented DETERx platform technology for the treatment of chronic pain and other diseases.
