Collegium Pharmaceutical Shares Drop to 52‑Week Low After Analyst Downgrade

Collegium Pharmaceutical Inc. (NASDAQ: COLL) fell to a new 52‑week low on Friday, trading as low as $28.90 after Needham & Company LLC cut its price target from $56.00 to $46.00 while maintaining a buy rating. The downgrade reflected a more cautious outlook despite the company’s recent earnings beat. In the second quarter, Collegium reported adjusted EPS of $1.92, above the $1.72 consensus, and revenue of about $199.9 million, a 6 % year‑over‑year increase. The firm also highlighted operating cash flow of $71.3 million and an adjusted EBITDA rise of 8 % to $113.8 million, supporting its ability to fund operations and integrate the recent AZSTARYS acquisition, which adds an ADHD treatment with patent protection through 2037. Other analysts have issued mixed ratings: Zacks Research moved the stock to a hold, Weiss Ratings reiterated a hold, and Wall Street downgraded it from a strong‑buy to a buy. Overall, MarketBeat shows an average rating of “moderate buy” with an average price target of $55.00.