Collegium Pharmaceutical (NASDAQ:COLL) Releases Earnings Results, Beats Estimates By $0.24 EPS

Collegium Pharmaceutical (NASDAQ:COLL) released its earnings results on Thursday. The specialty pharmaceutical company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.24, FiscalAI reports. Collegium Pharmaceutical had a return on equity of 95.18% and a net margin of 9.41%.The company had revenue of $193.52 million during the quarter, compared to the consensus estimate of $184.47 million. During the same quarter in the previous year, the company posted $1.49 EPS. Collegium Pharmaceutical’s quarterly revenue was up 8.9% compared to the same quarter last year.

Here are the key takeaways from Collegium Pharmaceutical’s conference call:

• AZSTARYS acquisition: Proposed cash purchase of $650M (plus up to $135M milestones) expected to close in Q2, which management says will be immediately accretive to adjusted EBITDA, deliver >$50M pro forma H2‑2026 revenue, >$50M cost synergies within 12 months, and extend portfolio patent protection through December 2037.
• Jornay PM momentum: Prescriptions rose 14% YoY to >206k, net revenue was $38.9M (+36% YoY), prescribers hit ~30,000, and company projects Jornay revenue of $190M–$200M in 2026 (≈31% growth).
• Pain portfolio and cash generation: Pain net revenue was $154.6M (+4% YoY) with BELBUCA and XTAMPZA ER growing, the company generated $57.1M cash from operations and ended Q1 with $421.8M cash to support business development, debt paydown, and share repurchases; 2026 guidance was reaffirmed.
• Near-term risks: Hikma launched authorized generics of Nucynta/Nucynta ER (creating competitive pressure despite a profit‑share), and the AZSTARYS deal will be financed partly with a $300M term loan leaving pro forma net debt/adjusted EBITDA around ~2x, which introduces short‑term leverage and integration risk despite management’s expectation of rapid deleveraging.

Collegium Pharmaceutical Stock Down 3.9%

Shares of NASDAQ:COLL traded down $1.53 on Friday, hitting $37.80. 697,981 shares of the company traded hands, compared to its average volume of 507,405. The stock has a 50 day simple moving average of $35.34 and a 200-day simple moving average of $41.62. The company has a quick ratio of 1.48, a current ratio of 1.81 and a debt-to-equity ratio of 2.57. The company has a market cap of $1.23 billion, a PE ratio of 18.53 and a beta of 0.76. Collegium Pharmaceutical has a 52 week low of $27.84 and a 52 week high of $50.79.

Insider Transactions at Collegium Pharmaceutical

In other Collegium Pharmaceutical news, EVP Scott Dreyer sold 49,976 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $40.41, for a total transaction of $2,019,530.16. Following the completion of the sale, the executive vice president directly owned 71,770 shares in the company, valued at approximately $2,900,225.70. This trade represents a 41.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Dieter sold 13,976 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $34.92, for a total transaction of $488,041.92. Following the completion of the transaction, the executive vice president owned 77,071 shares in the company, valued at approximately $2,691,319.32. This represents a 15.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Collegium Pharmaceutical by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,046 shares of the specialty pharmaceutical company’s stock worth $569,000 after acquiring an additional 825 shares during the period. Millennium Management LLC lifted its holdings in Collegium Pharmaceutical by 248.5% during the first quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company’s stock valued at $19,338,000 after purchasing an additional 461,914 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Collegium Pharmaceutical by 7.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,014 shares of the specialty pharmaceutical company’s stock worth $2,120,000 after purchasing an additional 4,625 shares during the period. Jane Street Group LLC increased its stake in shares of Collegium Pharmaceutical by 218.7% in the first quarter. Jane Street Group LLC now owns 131,520 shares of the specialty pharmaceutical company’s stock worth $3,926,000 after purchasing an additional 90,255 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Collegium Pharmaceutical by 3.7% in the second quarter. JPMorgan Chase & Co. now owns 72,068 shares of the specialty pharmaceutical company’s stock worth $2,131,000 after purchasing an additional 2,592 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on COLL. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Collegium Pharmaceutical in a report on Friday, March 20th. Wall Street Zen raised shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday. Truist Financial set a $58.00 price objective on shares of Collegium Pharmaceutical in a research note on Tuesday, February 10th. Weiss Ratings lowered shares of Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $56.00 target price (up from $54.00) on shares of Collegium Pharmaceutical in a research note on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.50.

Trending Headlines about Collegium Pharmaceutical

Here are the key news stories impacting Collegium Pharmaceutical this week:

• Positive Sentiment: Collegium beat Q1 expectations with earnings of $1.76 per share versus estimates around $1.42-$1.52, while revenue rose 8.9% year over year to $193.5 million, topping Wall Street forecasts. Collegium Reports First Quarter 2026 Financial Results and Highlights Recent Company Progress
• Positive Sentiment: The company highlighted strong segment performance, including JORNAY PM revenue up 36% year over year and pain portfolio revenue up 4%, suggesting healthy momentum across both ADHD and pain franchises. COLL Q1 deep dive: ADHD portfolio expansion and pain segment stability drive results
• Positive Sentiment: Management said it remains on track to close the $650 million AZSTARYS acquisition in the second quarter, a deal that could expand Collegium’s ADHD portfolio and support longer-term growth. Collegium outlines $805M-$825M 2026 product revenue outlook while planning to close $650M AZSTARYS deal in Q2
• Neutral Sentiment: Collegium reaffirmed full-year 2026 guidance and projected product revenue of $805 million to $825 million, which is slightly below the consensus revenue estimate but still signals continued growth. Collegium Reports First Quarter 2026 Financial Results and Highlights Recent Company Progress

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company’s core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company’s principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.