Collegium Pharmaceutical (NASDAQ:COLL) Announces Quarterly Earnings Results

Collegium Pharmaceutical (NASDAQ:COLL) posted its quarterly earnings results on Thursday. The specialty pharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.16), FiscalAI reports. The company had revenue of $205.45 million during the quarter, compared to analyst estimates of $206.36 million. Collegium Pharmaceutical had a net margin of 7.72% and a return on equity of 102.03%. Collegium Pharmaceutical’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS.

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

• Collegium reported record 2025 results with $780.6M in net revenues (up 24%), a record $460.5M adjusted EBITDA (up 15%), $329.3M cash from operations and ended the year with $386.7M in cash while reducing net leverage to below 1x.
• Jornay PM accelerated growth (prescriptions +20% y/y, $148.9M revenue, +48% pro forma), grew prescribers to ~29,000 after expanding the sales force to ~180 reps, and is guided to $190–$200M in 2026 ( >30% growth).
• The core pain portfolio remains a durable cash generator (2025 pain revenues ~$631.7M, +6% y/y) and Collegium struck an authorized‑generic agreement with Hikma for the Nucynta franchise (Hikma launched Nucynta and Nucynta ER is expected Q1 2026) with a profit‑share structure the company says will mitigate LOE impact.
• Management strengthened financial flexibility by closing a $980M syndicated credit facility that lowers interest costs and funds business development, and returned capital via a $25M repurchase while retaining $150M of repurchase capacity.

Collegium Pharmaceutical Stock Down 3.3%

Shares of Collegium Pharmaceutical stock traded down $1.53 during trading hours on Thursday, hitting $44.22. The company had a trading volume of 568,327 shares, compared to its average volume of 419,569. The company’s 50-day moving average is $46.75 and its two-hundred day moving average is $41.98. Collegium Pharmaceutical has a twelve month low of $23.23 and a twelve month high of $50.79. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.36 and a quick ratio of 1.27. The company has a market cap of $1.40 billion, a P/E ratio of 27.47 and a beta of 0.64.

Key Stories Impacting Collegium Pharmaceutical

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

• Positive Sentiment: Record full‑year and solid quarterly revenue growth: Collegium reported Q4 net revenue of $205.4M (up ~13% YoY) and record FY2025 net revenues of $780.6M (up ~24% YoY), supporting the company’s growth story. Collegium Reports Fourth Quarter and Full-Year 2025 Financial Results
• Positive Sentiment: Profitability metrics remain strong year-over-year: EPS rose to $2.04 from $1.77 a year ago and the company reports healthy return on equity and margins, underlining operational leverage despite the quarter’s miss versus estimates. Collegium Q4 earnings and materials
• Neutral Sentiment: FY2026 revenue guidance roughly in line with Street: Management gave revenue guidance of $805M–$825M, which overlaps consensus (~$806.8M) — this reduces downside surprise risk but isn’t a clear upside catalyst. Collegium Reports Fourth Quarter and Full-Year 2025 Financial Results
• Neutral Sentiment: Analyst action: Needham trimmed its price target from $56 to $54 but reaffirmed a Buy rating, signaling continued analyst confidence though with slightly lower near‑term expectations. Benzinga
• Neutral Sentiment: Management commentary available: The full earnings call transcript and slide deck are posted for details on product trends (Jornay PM focus) and margin drivers — useful for investors digging into guidance assumptions. Earnings Call Transcript
• Negative Sentiment: Quarterly EPS and revenue missed consensus: Q4 EPS of $2.04 missed the roughly $2.19–$2.20 consensus and revenue (~$205.45M) was just below estimates (~$206.3M) — the misses are the primary near‑term driver of the stock pullback. Q4 Earnings and Revenues Miss Estimates
• Neutral Sentiment: Short‑interest report appears noisy/erroneous (zeros reported) and is not providing a clear signal to the market at this time. (No reliable link available.)

Analyst Ratings Changes

COLL has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $60.00 target price (up from $46.00) on shares of Collegium Pharmaceutical in a research note on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Collegium Pharmaceutical in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Needham & Company LLC lowered their target price on shares of Collegium Pharmaceutical from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barclays dropped their target price on Collegium Pharmaceutical from $58.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.00.

Insider Buying and Selling at Collegium Pharmaceutical

In other Collegium Pharmaceutical news, Director Rita J. Balice-Gordon sold 3,650 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $47.03, for a total transaction of $171,659.50. Following the transaction, the director owned 52,629 shares of the company’s stock, valued at approximately $2,475,141.87. This trade represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Dreyer sold 17,600 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $48.17, for a total value of $847,792.00. Following the transaction, the executive vice president owned 103,613 shares in the company, valued at $4,991,038.21. This represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.51% of the company’s stock.

Institutional Investors Weigh In On Collegium Pharmaceutical

Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in Collegium Pharmaceutical by 10.8% during the 4th quarter. Corient Private Wealth LLC now owns 7,768 shares of the specialty pharmaceutical company’s stock worth $360,000 after buying an additional 760 shares during the last quarter. Empowered Funds LLC acquired a new position in Collegium Pharmaceutical during the 4th quarter worth approximately $1,512,000. Zacks Investment Management purchased a new position in shares of Collegium Pharmaceutical during the 4th quarter worth approximately $1,303,000. Susquehanna Portfolio Strategies LLC raised its stake in shares of Collegium Pharmaceutical by 230.3% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 48,808 shares of the specialty pharmaceutical company’s stock worth $2,260,000 after buying an additional 34,033 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Collegium Pharmaceutical by 7.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 17,176 shares of the specialty pharmaceutical company’s stock valued at $795,000 after buying an additional 1,166 shares during the period.

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.