Needham Releases a Buy Rating on Collegium Pharmaceutical (COLL)
Needham analyst Serge Belanger assigned a Buy rating to Collegium Pharmaceutical (COLL) today and set a price target of $34.00. The company’s shares closed last Thursday at $21.75.
According to TipRanks.com, Belanger is a 4-star analyst with an average return of 11.6% and a 49.1% success rate. Belanger covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals, Zynerba Pharmaceuticals, and Verrica Pharmaceuticals.
Collegium Pharmaceutical has an analyst consensus of Strong Buy, with a price target consensus of $33.80, which is a 55.5% upside from current levels. In a report issued on February 26, H.C. Wainwright also reiterated a Buy rating on the stock with a $33.00 price target.
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Based on Collegium Pharmaceutical’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $76.27 million and net profit of $6.96 million. In comparison, last year the company earned revenue of $74.2 million and had a GAAP net loss of $2.2 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. Its products include Xtampza ER, Nucynta ER and Nucynta IR. The Xtampza ER provides pain control while maintaining its extended-release drug release profile after being subjected to common methods of abuse and accidental misuse. The Nucynta ER for the treatment of chronic pain and neuropathic pain associated with diabetic peripheral neuropathy. The Nucynta IR is a release formulation of tapentadol indicated for the management of acute pain severe enough to require an opioid analgesic. The company was founded by Michael Thomas Heffernan in October 2003 and is headquartered in Stoughton, MA.