Collegium Pharmaceutical, Inc. (COLL) Stock Price & Analysis
Collegium Pharmaceutical, Inc. (COLL) closed at USD 23.5 on Thursday, October 22, 2026, up 2.55% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 22.92; the Oct 22, 2026 session ranged USD 22.99–23.85 on volume of 738,759 shares. Market capitalization is $765.06M, with a 52-week range of USD 21.43–50.79 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:48 UTC.
Also available as compact Markdown for AI agents: nexqual.com/COLL.md
Key facts (COLL)
- Last four reported quarters (through Jun 30, 2026): revenue $808M, net income $47.9M (5.9% margin), free cash flow $328M (SEC filings).
- Valuation: P/E 16.0x (avg 24.2x at the last 3 fiscal year-ends), EV/EBITDA 5.4x, net debt $109M.
- 1 of 80 tracked superinvestors hold COLL (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $629K; 4 not under a Rule 10b5-1 plan ($629K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.88 on a 1–5 scale) (8 analysts), mean target USD 49 (range 43–60).
- Total return with dividends: 1Y -33.9% vs S&P 500 +14.9%; 5Y +11.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.86, revenue estimate $216M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (COLL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $277M | $464M | $567M | $631M | $781M | $808M |
| Gross profit | $151M | $209M | $326M | $377M | $463M | — |
| Operating income | $17.6M | $33.3M | $167M | $170M | $180M | $157M |
| Net income | $71.5M | -$25.0M | $48.2M | $69.2M | $62.9M | $47.9M |
| EPS (diluted) | $1.86 | -$0.74 | $1.29 | $1.86 | $1.73 | — |
| Free cash flow | $102M | $123M | $274M | $203M | $328M | $328M |
| Gross margin | 54.4% | 45.2% | 57.5% | 59.8% | 59.3% | — |
| Operating margin | 6.4% | 7.2% | 29.5% | 26.9% | 23.0% | 19.5% |
| Net margin | 25.8% | -5.4% | 8.5% | 11.0% | 8.1% | 5.9% |
| Revenue growth | -10.7% | +67.6% | +22.2% | +11.4% | +23.6% | — |
| Cash + short-term investments | $186M | $174M | $311M | $163M | $387M | — |
| Total debt | $140M | $141M | $262M | $237M | $238M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (COLL)
P/E 16.0x · P/S 0.9x · EV/EBITDA 5.4x · EV/Sales 1.1x · P/FCF 2.3x · P/B 2.5x · FCF yield 42.91% · Earnings yield 6.26% · Net debt $109M · EV $874M
P/E at fiscal year-ends: Dec 2025 29.2x, Dec 2024 16.7x, Dec 2023 26.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (COLL)
1 of 80 tracked investors hold COLL. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Third Avenue Management | 1.06% | $6.6M | Added +17.7% |
Insider sales (SEC Form 4, open-market, last ~7 months) (COLL)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-18 | Freund John Gordon | Director | 20 | $1K | 0% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-15 | Freund John Gordon | Director | 4,127 | $143K | 3.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-13 | Lurker Nancy | Director | 4,500 | $162K | 20% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11 | Bohlin Garen G | Director | 8,700 | $323K | 12.3% | No | Too little history (no open-market trades in 2023 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (COLL)
Consensus Buy (mean 1.88 on a 1–5 scale), 8 analysts; mean target USD 49 (low 43, high 60).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-23 | Oppenheimer | Initiated | Outperform | $50 |
| 2026-09-09 | Truist Securities | Target lowered | Buy | $58 → $49 |
| 2026-09-09 | Leerink Partners | Initiated | Outperform | $45 |
| 2026-08-19 | Barclays | Target lowered | Overweight | $56 → $48 |
| 2026-08-07 | Piper Sandler | Target lowered | Neutral | $45 → $43 |
| 2026-08-06 | Needham | Target lowered | Buy | $56 → $46 |
Total return (dividends reinvested) (COLL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -33.9% | +11.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -34.0% | +2.2% |
| Volatility (annualized) | 44.7% | 39.1% |
| Max drawdown | -56.8% (Dec 2025→Oct 2026) | -55.8% (Dec 2025→Sep 2026) |
COLL revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Belbuca | $57.7M | 28.9% | +9.6% |
| Jornay PM | $46.1M | 23.0% | +41.2% |
| Xtampza ER | $45.0M | 22.5% | -14.4% |
| Nucynta ER | $15.7M | 7.9% | -21.2% |
| Nucynta IR | $14.4M | 7.2% | -45.8% |
| Azstarys | $12.9M | 6.5% | — |
| Symproic | $3.0M | 1.5% | -18.9% |
| Nucynta ER AG | $2.8M | 1.4% | — |
| Nucynta IR AG | $2.4M | 1.2% | — |
| Total revenue | $199.9M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
COLL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Thermo Fisher (TMO) | “To date, we have produced Xtampza ER through a contract manufacturing organization, Patheon, a subsidiary of Thermo Fisher Scientific, pursuant to a third-party supply agreement.” |
| Partner | Hikma Pharmaceuticals USA | “We have entered into an authorized generic agreement with Hikma Pharmaceuticals USA Inc. ("Hikma"), pursuant to which we granted Hikma rights relating to an authorized generic version of the Nucynta Products in the United States.” |
| Partner | BDSI and Shionogi | “We are party to a license agreement with Grünenthal Gmbh (the "Grünenthal License") pursuant to which we license the right to commercialize the Nucynta Products in the United States and its territories and a license agreement with Shionogi (the "Shionogi License") pursuant to which we license the right to commercialize Symproic in the United States and its territories.” |
Quoted from the company's 10-K filed Feb 26, 2026.
COLL customer concentration
In the period ended Dec 31, 2025, 3 direct customers each accounted for at least 10% (34%, 34%, 29%) of revenue, per the company's 10-K filed Feb 26, 2026. The company does not name them.
COLL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.86 | $2.10 | -11.5% | $216.0M | 7 |
| Next quarter (ends Dec 2026) | $1.98 | $2.24 | -11.6% | $223.6M | 7 |
| Current fiscal year (ends Dec 2026) | $7.46 | $7.78 | -4.2% | $833.1M | 7 |
| Next fiscal year (ends Dec 2027) | $7.26 | $7.51 | -3.4% | $844.5M | 7 |
COLL options: expected move
Options price a move of about ±26.7% (±$6.28) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±10.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 120.1% | ±26.7% |
| Dec 18, 2026 | 56 | 92.4% | ±26.2% |
| Mar 19, 2027 | 147 | 58.6% | ±30.0% |
| Jun 17, 2027 | 237 | 53.1% | ±33.0% |
30-day implied volatility 63% vs 27% realized over the last 30 trading days. Put/call ratio (volume) 0.23. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:48 UTC)
| Price | USD 23.5 |
|---|---|
| Change | ▲ 2.55% (up) |
| Previous Close | USD 22.92 |
| Open | USD 23.03 |
| Day Range | USD 22.99 – 23.85 |
| 52-Week Range | USD 21.43 – 50.79 |
| Volume | 738,759 shares |
| Market Cap | $765.06M |
| Exchange | NMS |
Technical Analysis (COLL)
Nexqual's technical model rates COLL "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 09:48 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 59.28 (neutral) |
| vs SMA50 | Below (USD 23.88) |
| MACD | -0.2 (negative) |
Analyst Ratings (COLL)
Wall Street analysts rate COLL "Buy" based on 8 analysts, with a mean price target of USD 49 (range USD 43–60), per Nexqual as of October 23, 2026 at 09:48 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 8 |
| Mean Target | USD 49 |
| High Target | USD 60 |
| Low Target | USD 43 |
| Buy / Hold / Sell | 7 / 1 / 0 |
Earnings (COLL)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.86 |
| Revenue Estimate | $216.03M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.92 vs est 1.77 ▲ beat |
| 2026-03-31 | USD 1.76 vs est 1.52 ▲ beat |
| 2025-12-31 | USD 2.04 vs est 2.14 ▼ miss |
| 2025-09-30 | USD 2.25 vs est 1.86 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Financials & Fundamentals (COLL)
| Total Revenue | $808.21M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +6.30% |
| Gross Margin | +89.45% |
| Operating Margin | +5.65% |
| Profit Margin | +5.93% |
| ROE | +17.61% |
| Debt / Equity | 3.9 |
| Current Ratio | 1.03 |
| Total Cash | $129.47M |
| Total Debt | $1.22B |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
Ownership (COLL)
| Insider Ownership | +1.15% |
|---|---|
| Institutional Ownership | +129.97% |
| Shares Outstanding | 32.56M |
| Float | 29.77M |
| Short % of Float | +20.24% |
Source: Nexqual, October 23, 2026 at 09:48 UTC.
From Collegium Pharmaceutical, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- In January 2026, a generic equivalent of Nucynta IR 50mg, 75mg and 100mg tablets was approved under an abbreviated New Drug Application ("ANDA") filed by a third party with the FDA, which carves out pediatric use from its label.
- The API used to formulate the products in our portfolio and DEA drug scheduling are as follows: Oxycodone, tapentadol, methylphenidate, and buprenorphine are classified as narcotic controlled substances under U.S. federal law.
- We have concluded that some of our technology is best protected as proprietary know-how, rather than through obtaining patents.
- To help protect our proprietary know-how that is not patentable, we rely on trade secret protection and confidentiality agreements to protect our interests.
Partnerships
- We have entered into an authorized generic agreement with Hikma Pharmaceuticals USA Inc. ("Hikma"), pursuant to which we granted Hikma rights relating to an authorized generic version of the Nucynta Products in the United States.
- We are party to a license agreement with Grünenthal Gmbh (the "Grünenthal License") pursuant to which we license the right to commercialize the Nucynta Products in the United States and its territories and a license agreement with Shionogi (the "Shionogi License") pursuant to which we license the right to commercialize Symproic in the United States and its territories.
Legal & Regulatory Risks (Item 1A, quoted)
- Failure to comply with ongoing governmental regulations for marketing our products, and in particular any failure to promote Xtampza ER's abuse deterrent labeling in compliance with FDA regulations, could delay or inhibit our ability to generate revenues from their sale and could also expose us to claims or other sanctions.
- Unfavorable outcomes in intellectual property litigation could be costly and potentially limit our ability to commercialize our products.
- Current and future legislation and regulatory changes may increase the difficulty and cost for us to continue to commercialize our products and may reduce the prices we are able to obtain for our products.
- Our products may become subject to unfavorable pricing regulations or third-party coverage and reimbursement policies, which could have a material adverse effect on our business. Such pricing regulations may address the rebates that manufacturers offer to pharmaceutical benefit managers, or the discounts that manufacturers provide others within the pharmaceutical distribution chain.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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| BHC | Bausch Health Companies Inc. | USD 6.49 | ▲ 0.62% |
| SUPN | Supernus Pharmaceuticals, Inc. | USD 42.07 | ▲ 2.09% |
| HCM | HUTCHMED (China) Limited | USD 14.28 | ▼ 0.63% |
| LQDA | Liquidia Corporation | USD 39.69 | ▲ 2.14% |
| AMLX | Amylyx Pharmaceuticals, Inc. | USD 28.57 | ▼ 1.58% |
| INDV | Indivior Pharmaceuticals, Inc. | USD 35.33 | ▲ 1.55% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:48 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt