H.C. Wainwright Thinks Collegium Pharmaceutical’s Stock is Going to Recover

In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Collegium Pharmaceutical (COLL), with a price target of $23. The company’s shares closed on Friday at $11.24, close to its 52-week low of $10.01.

Livnat said:

“We continue to believe Collegium’s stock is unjustifiably depressed by opioid litigation headlines, as we think the company is the closest thing to a “good guy” in the C2 opioid space, having entered the market well after most of the industry’s bad- behavior is alleged to have occurred, an Xtampza ER label that has clearly differentiated abuse-deterrence claims, and largely promoting to pain-specialists in a hyper-sensitive risk-benefit environment. Collegium is also indemnified from any Nucynta liability prior to January 2018. Going into 2H, we are conservative on numbers, and below consensus and the company’s total revenue guidance midpoint, as we assume a step down in Xtampza ER value/Rx on higher gross-to-nets (GTN).”

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 6.7% and a 51.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Zynerba Pharmaceuticals.

Collegium Pharmaceutical has an analyst consensus of Moderate Buy, with a price target consensus of $23.

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Based on Collegium Pharmaceutical’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $4.71 million. In comparison, last year the company had a GAAP net loss of $13.06 million.

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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.

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