From Nasdaq:

Collegium Pharmaceutical (COLL) shares closed 8.4% higher, reaching $33.86. The sudden spike came after the company outlined its 2024 financial guidance, expected to bring in $580-595 million in product revenue and operating expenses in the $120-125 million range. Adjusted EBITDA is projected to fall between $380-395 million.

The pharma giant expects to post earnings of $1.40 per share in the upcoming quarterly report, with revenues anticipated to reach $147.65 million. In evaluating the potential stock strength, it’s important to consider trends in earnings estimate revisions, as shown to have a strong correlation with stock price movements.

With a rank of #3 (Hold), CRNX is another company to watch within Collegium Pharma’s industry. Over the past month, CRNX has posted a 5.6% return.

Financial estimates for Crinetics Pharmaceuticals, Inc.’s upcoming report changed by +0.2% in the past month. The company’s earnings per share are expected to reach -$0.89, representing a change of -6% from the previous year. Based on ranking, this company holds the #3 (Hold) spot.

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Read more: Strength Seen in Collegium Pharmaceutical (COLL): Can Its 8.4% Jump Turn into More Strength?