Collegium Pharmaceutical (NASDAQ:COLL) Announces Quarterly Earnings Results, Misses Expectations By $0.16 EPS

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

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 Trading Down 3.3%

NASDAQ COLL traded down $1.53 on Thursday, reaching $44.22. The stock had a trading volume of 568,327 shares, compared to its average volume of 419,569. The company has a quick ratio of 1.27, a current ratio of 1.36 and a debt-to-equity ratio of 2.71. The stock has a fifty day moving average price of $46.75 and a two-hundred day moving average price of $41.98. Collegium Pharmaceutical has a 12-month low of $23.23 and a 12-month high of $50.79. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 27.47 and a beta of 0.64.

Collegium Pharmaceutical News Summary

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.)

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COLL. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target (up from $46.00) on shares of Collegium Pharmaceutical in a research report on Friday, January 9th. Barclays cut their target price on Collegium Pharmaceutical from $58.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. Needham & Company LLC reduced their target price on Collegium Pharmaceutical from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Collegium Pharmaceutical in a research note on Monday, December 29th. Finally, Wall Street Zen raised Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Collegium Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Insider Buying and Selling at Collegium Pharmaceutical

In related 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 completion of the transaction, the director directly owned 52,629 shares in the company, valued at $2,475,141.87. This trade represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Dreyer sold 17,600 shares of Collegium Pharmaceutical stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $48.17, for a total value of $847,792.00. Following the completion of the transaction, the executive vice president directly owned 103,613 shares of the company’s stock, valued at approximately $4,991,038.21. This represents a 14.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC grew its holdings in shares of Collegium Pharmaceutical by 10.8% in the fourth quarter. Corient Private Wealth LLC now owns 7,768 shares of the specialty pharmaceutical company’s stock valued at $360,000 after purchasing an additional 760 shares in the last quarter. Empowered Funds LLC acquired a new stake in Collegium Pharmaceutical during the 4th quarter worth approximately $1,512,000. Zacks Investment Management purchased a new position in Collegium Pharmaceutical in the 4th quarter valued at approximately $1,303,000. Susquehanna Portfolio Strategies LLC grew its stake in shares of Collegium Pharmaceutical by 230.3% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 48,808 shares of the specialty pharmaceutical company’s stock worth $2,260,000 after acquiring an additional 34,033 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Collegium Pharmaceutical by 7.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 17,176 shares of the specialty pharmaceutical company’s stock worth $795,000 after acquiring an additional 1,166 shares in the last quarter.

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.