Collegium Pharmaceutical (NASDAQ:COLL) Shares Gap Up – Here’s Why

Collegium Pharmaceutical, Inc. (NASDAQ:COLL)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $34.80, but opened at $35.64. Collegium Pharmaceutical shares last traded at $35.6830, with a volume of 304,170 shares traded.

Key Collegium Pharmaceutical News

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

• Positive Sentiment: Collegium agreed to acquire AZSTARYS from Corium, adding a differentiated ADHD medicine to its portfolio; company says the asset is expected to generate over $50M in pro‑forma net revenue in H2 2026, offers patent protection into 2037, and the deal is expected to be immediately accretive to adjusted EBITDA. Collegium to Acquire AZSTARYS from Corium Therapeutics (GlobeNewswire)
• Positive Sentiment: Sell‑side support strengthened: HC Wainwright reaffirmed a Buy with a $60 PT and Needham reaffirmed Buy with a $56 PT — both imply substantial upside vs. the recent share price, which can underpin investor confidence. Analyst Coverage (Benzinga)
• Neutral Sentiment: Conference call and management discussion transcripts are available for investors seeking details on deal economics and integration plans. Acquisition Discussion Transcript (Seeking Alpha)
• Neutral Sentiment: FDA news elsewhere in the pharma sector: PharmExec reports approval of Wegovy HD (Novo Nordisk) — relevant for sector context but not directly tied to Collegium’s ADHD/pain-focused franchise. FDA Approves Wegovy HD (PharmExec)
• Neutral Sentiment: Public press coverage shows deal price described with varying figures (reports cite up to $785M and also $650M headlines) — read releases for definitive terms. Collegium to buy AZSTARYS for up to $785M (MSN)
• Negative Sentiment: The acquisition costs and financing raise near‑term financial risk: the deal is being funded from cash on hand plus a previously announced $300M delayed‑draw term loan, which increases leverage for a company that already shows a relatively high debt/equity ratio; investors may worry about cash burn, integration execution and balance‑sheet pressure. Deal Coverage (FiercePharma)
• Negative Sentiment: Recent quarterly results (Feb. 26) showed a slight revenue and EPS miss vs. consensus, which combined with the large acquisition outlay can pressure near‑term sentiment as investors await proof the deal accelerates growth. Earnings Summary (Benzinga)
• Neutral Sentiment: Reported short‑interest data appears anomalous (shows zero shares), so it does not provide a meaningful read into market positioning at this time.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $56.00 price target (up from $54.00) on shares of Collegium Pharmaceutical in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $60.00 target price on shares of Collegium Pharmaceutical in a report on Friday. Weiss Ratings downgraded shares of Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 5th. Zacks Research lowered shares of Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.40.

Collegium Pharmaceutical Stock Performance

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 20.75 and a beta of 0.67. The company has a 50 day simple moving average of $43.26 and a 200-day simple moving average of $41.88. The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 2.59.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings data on Thursday, February 26th. The specialty pharmaceutical company reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.16). The company had revenue of $205.45 million during the quarter, compared to the consensus estimate of $206.36 million. Collegium Pharmaceutical had a net margin of 8.05% and a return on equity of 98.65%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. As a group, equities research analysts expect that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

Insider Activity

In other news, EVP Scott Dreyer sold 49,976 shares of the 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 transaction, the executive vice president owned 71,770 shares of the company’s stock, valued at $2,900,225.70. This represents a 41.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Dieter sold 13,976 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $34.92, for a total value of $488,041.92. Following the completion of the sale, the executive vice president owned 77,071 shares of the company’s stock, valued at approximately $2,691,319.32. This represents a 15.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Collegium Pharmaceutical

A number of large investors have recently modified their holdings of the company. Rubric Capital Management LP grew its position in Collegium Pharmaceutical by 5.3% in the 2nd quarter. Rubric Capital Management LP now owns 3,157,743 shares of the specialty pharmaceutical company’s stock valued at $93,374,000 after purchasing an additional 157,743 shares during the period. Vanguard Group Inc. raised its holdings in Collegium Pharmaceutical by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,256,254 shares of the specialty pharmaceutical company’s stock worth $104,465,000 after buying an additional 29,876 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Collegium Pharmaceutical by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,617,349 shares of the specialty pharmaceutical company’s stock worth $74,883,000 after buying an additional 18,160 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Collegium Pharmaceutical by 59.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,448,578 shares of the specialty pharmaceutical company’s stock valued at $67,026,000 after buying an additional 538,337 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Collegium Pharmaceutical by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,313,662 shares of the specialty pharmaceutical company’s stock valued at $60,823,000 after buying an additional 3,891 shares in the last quarter.

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.