Collegium Pharmaceutical (NASDAQ:COLL) Releases Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Collegium Pharmaceutical (NASDAQ:COLL) announced its quarterly earnings data on Thursday. The specialty pharmaceutical company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20, FiscalAI reports. The firm had revenue of $199.88 million during the quarter, compared to analyst estimates of $199.62 million. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. Collegium Pharmaceutical’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS.

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

• ADHD momentum accelerated: JORNAY PM revenue rose 41% year over year to $46.1 million, prescriptions increased 13.1%, and prescribers reached more than 30,000. The company maintained its 2026 JORNAY revenue guidance of $190 million to $200 million.
• AZSTARYS integration is complete following the May acquisition, with the expanded 190-representative sales force trained ahead of the back-to-school season. Collegium raised its partial-year AZSTARYS revenue outlook to $65 million-$75 million and cited expected cost synergies and immediate adjusted EBITDA accretion.
• The pain portfolio remained a significant cash-flow base, with BELBUCA revenue up 10% to $57.7 million and formulary access secured for an additional 9 million lives beginning in the fourth quarter. However, XTAMPZA revenue declined 14% and NUCYNTA revenue fell 24% because of lower authorized-generic pricing, which management believes has now stabilized.
• 2026 adjusted EBITDA guidance is essentially flat year over year at $445 million-$470 million, despite total product revenue guidance of $825 million-$855 million. The company also reported a $15.1 million GAAP net loss, partly reflecting $24.1 million in AZSTARYS acquisition-related expenses and increased investment in the ADHD franchise.

Collegium Pharmaceutical Stock Performance

NASDAQ:COLL traded up $0.36 during midday trading on Friday, hitting $29.47. The company’s stock had a trading volume of 978,489 shares, compared to its average volume of 434,937. Collegium Pharmaceutical has a fifty-two week low of $28.01 and a fifty-two week high of $50.79. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.14 and a quick ratio of 1.62. The firm has a market cap of $955.71 million, a P/E ratio of 23.77 and a beta of 0.73. The firm’s 50 day moving average is $34.78 and its 200-day moving average is $37.07.

Collegium Pharmaceutical News Roundup

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

• Positive Sentiment: Second-quarter adjusted EPS was $1.92, above analyst expectations of approximately $1.72, while revenue increased 6.3% year over year to $199.9 million. Adjusted EBITDA rose 8% to $113.8 million and operating cash flow was $71.3 million. Collegium Pharmaceutical Q2 Earnings Beat
• Positive Sentiment: The ADHD portfolio showed momentum: JORNAY PM revenue climbed 41% to $46.1 million, and the completed AZSTARYS acquisition contributed $12.9 million in partial-quarter revenue. Collegium raised its full-year AZSTARYS revenue outlook to $65 million-$75 million from $60 million-$70 million, potentially supporting longer-term growth. Collegium Q2 2026 Results
• Neutral Sentiment: Piper Sandler reaffirmed its “neutral” rating but lowered its price target to $43 from $45. Needham retained a “buy” rating while cutting its target to $46 from $56, reflecting continued upside but greater near-term caution. Analyst Price Target Updates
• Negative Sentiment: Collegium reduced full-year product-revenue guidance to $825 million-$855 million from $865 million-$895 million and lowered adjusted EBITDA guidance to $445 million-$470 million from $475 million-$500 million. The company cited lower pricing and weaker-than-expected authorized-generic Nucynta revenue.
• Negative Sentiment: The pain portfolio declined 9% year over year to $140.9 million; Nucynta revenue fell 24% and Xtampza ER revenue dropped 14%. GAAP results also shifted to a $15.1 million net loss from $12.0 million of net income, while operating expenses increased 45%, adding pressure to profitability. Collegium Sales and Guidance Report

Institutional Trading of Collegium Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Collegium Pharmaceutical by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,046 shares of the specialty pharmaceutical company’s stock worth $569,000 after purchasing an additional 825 shares during the last quarter. Millennium Management LLC boosted its holdings in Collegium Pharmaceutical by 248.5% in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 valued at $2,120,000 after purchasing an additional 4,625 shares during the last quarter. Jane Street Group LLC grew its position in Collegium Pharmaceutical by 218.7% during the 1st 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 during the period. Finally, JPMorgan Chase & Co. grew its position in Collegium Pharmaceutical by 3.7% during the 2nd 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 during the period.

Analyst Ratings Changes

A number of research analysts have issued reports on COLL shares. Weiss Ratings restated a “hold (c)” rating on shares of Collegium Pharmaceutical in a research note on Monday, July 6th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC dropped their price objective on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a research report on Friday. Finally, Truist Financial raised Collegium Pharmaceutical to a “strong-buy” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Collegium Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $52.60.

About Collegium Pharmaceutical

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.