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

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

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 Price Performance

Shares of COLL stock traded up $0.36 during trading hours on Friday, hitting $29.47. The company had a trading volume of 978,489 shares, compared to its average volume of 434,937. Collegium Pharmaceutical has a 12 month low of $28.01 and a 12 month high of $50.79. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.62 and a current ratio of 1.14. The firm’s fifty day moving average is $34.78 and its 200 day moving average is $37.07. The firm has a market capitalization of $955.71 million, a price-to-earnings ratio of 23.77 and a beta of 0.73.

Institutional Investors Weigh In On Collegium Pharmaceutical

A number of large investors have recently bought and sold shares of COLL. Group One Trading LLC bought a new stake in shares of Collegium Pharmaceutical during the fourth quarter worth $28,000. Kemnay Advisory Services Inc. acquired a new stake in Collegium Pharmaceutical in the fourth quarter worth about $61,000. EverSource Wealth Advisors LLC raised its holdings in Collegium Pharmaceutical by 744.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company’s stock worth $73,000 after purchasing an additional 2,190 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Collegium Pharmaceutical by 304.6% during the 2nd quarter. NewEdge Advisors LLC now owns 3,047 shares of the specialty pharmaceutical company’s stock worth $90,000 after purchasing an additional 2,294 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Collegium Pharmaceutical by 444.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,551 shares of the specialty pharmaceutical company’s stock worth $105,000 after purchasing an additional 2,899 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COLL. Zacks Research downgraded shares of Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen cut shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Needham & Company LLC decreased their target price on Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial raised Collegium Pharmaceutical to a “strong-buy” rating in a report on Monday, June 15th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $43.00 price objective (down from $45.00) on shares of Collegium Pharmaceutical in a research report on Friday. One research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.60.

Collegium Pharmaceutical News Summary

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

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.