After Cantor Fitzgerald and Piper Jaffray gave Collegium Pharmaceutical (NASDAQ: COLL) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ed Arce maintained a Buy rating on Collegium Pharmaceutical today and set a price target of $32. The company’s shares closed yesterday at $17.15.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 9.8% and a 38.2% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Conatus Pharmaceuticals.
Currently, the analyst consensus on Collegium Pharmaceutical is a Strong Buy with an average price target of $32.67, representing a 90.5% upside. In a report issued on November 8, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $35 price target.
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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.
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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.
