.August 9, 2024 Friday 04:36 PM

Piper Sandler analysts have adjusted their price target for Collegium Pharmaceutical to $37 from $39, maintaining a Neutral rating. Collegium reported second-quarter 2024 results with adjusted diluted EPS of $1.62 on revenue of $145.3 million, slightly exceeding consensus estimates. The company expects 2024 sales between $580 million to $595 million for its pain management business. The revised outlook considers Collegium’s acquisition of Ironshore, including Jornay PM and associated commercial expenses in future estimates.

Despite the anticipated EBITDA accretion from the acquisition, analysts are cautious about Collegium’s stock due to upcoming patent expirations. Key products like Nucynta ER, Nucynta IR, and Belbuca are set to lose exclusivity in 2025 and 2027, with Jornay PM’s patent expiring in 2032. These patent expirations pose potential risks that could impact Collegium’s long-term financial performance.