Collegium Pharmaceutical, Inc. (COLL) Stock Analysis

Why this analysis is different

• A sector-relative MoonshotScore — five pillars (business quality, financial safety, valuation, growth durability, momentum) re-ranked nightly against the full universe of US-listed common stocks.
• An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
• Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.

Collegium Pharmaceutical, Inc. (COLL) Healthcare & Pipeline Overview

Collegium Pharmaceutical, Inc. develops and commercializes pain management medications, including abuse-deterrent opioid formulations, addressing the critical need for safer pain relief options. With a focus on extended-release technology, Collegium aims to provide long-lasting pain relief while mitigating the risk of abuse in the specialty pharmaceutical market.

What Is the Investment Thesis for COLL?

With a market capitalization of $743M and a P/E ratio of 14.98, Collegium demonstrates profitability and market valuation. The company's gross margin of 60.7% and profit margin of 9.4% indicate efficient operations and strong pricing power. Growth catalysts include increased adoption of Xtampza ER and Nucynta ER/IR, driven by the ongoing opioid crisis and demand for safer pain management options. Successful execution of marketing strategies and expansion of distribution channels could further boost revenue. However, potential risks include regulatory challenges, competition from generic alternatives, and evolving guidelines on opioid prescribing. The company's beta of 0.77 suggests lower volatility compared to the broader market.

Based on FMP financials and quantitative analysis

COLL Key Highlights

Market Cap of $743M reflects investor confidence in Collegium's market position and growth potential.

• P/E ratio of 14.98 indicates a reasonable valuation relative to earnings.
• Gross Margin of 60.7% demonstrates efficient cost management and pricing power.
• Profit Margin of 9.4% showcases the company's ability to convert revenue into profit.
• Beta of 0.77 suggests lower volatility compared to the overall market, indicating a relatively stable investment.

Who Are COLL's Competitors?

COLL is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.

AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance

What Are COLL's Key Strengths?

Abuse-deterrent technology reduces the risk of opioid misuse.

• Extended-release formulations provide long-lasting pain relief.
• Established presence in the pain management market.
• Experienced management team with a track record of success.

What Are COLL's Weaknesses?

Reliance on a limited number of products.

• Exposure to regulatory risks and changing guidelines on opioid prescribing.
• Competition from generic alternatives.
• Potential for product liability claims.

What Could Drive COLL Stock Higher?

Continued market penetration of Xtampza ER due to its abuse-deterrent properties.

• Increasing demand for non-opioid pain management options benefiting Nucynta ER/IR sales.
• Potential regulatory approvals for new formulations or indications.
• Strategic partnerships to expand product portfolio and market reach.

What Are the Key Risks for COLL?

Financial-distress signal — its Altman Z-Score of 0.94 sits in the distress zone (elevated bankruptcy risk).

• Insider selling — insiders were net sellers of roughly $1.4M recently.
• Increased regulatory scrutiny and restrictions on opioid prescribing.
• Competition from generic alternatives and new pain management therapies.
• Product liability claims related to opioid medications.
• Patent expirations and loss of exclusivity for key products.
• Changes in healthcare reimbursement policies affecting pricing and access.

What Are the Growth Opportunities for COLL?

• Expansion of Xtampza ER Market Share: Xtampza ER, Collegium's abuse-deterrent oxycodone formulation, has the potential to capture a larger share of the opioid pain management market. As awareness of the risks associated with traditional opioids grows, healthcare providers are increasingly seeking safer alternatives. By focusing on educating physicians and patients about the benefits of Xtampza ER's abuse-deterrent properties, Collegium can drive adoption and increase sales. The opioid pain market is estimated to be worth billions of dollars annually, providing a significant opportunity for Collegium to expand its market presence. Timeline: Ongoing.
• Increased Adoption of Nucynta ER/IR: Nucynta ER and Nucynta IR, Collegium's tapentadol formulations, offer alternative pain relief options for patients who may not be suitable for traditional opioids. By targeting specific patient populations and highlighting the unique benefits of tapentadol, Collegium can drive increased adoption of Nucynta ER/IR. The non-opioid pain market is growing rapidly, driven by concerns about opioid addiction and side effects. Collegium can capitalize on this trend by positioning Nucynta ER/IR as a safer and more effective alternative. Timeline: Ongoing.
• Strategic Partnerships and Acquisitions: Collegium can pursue strategic partnerships and acquisitions to expand its product portfolio and geographic reach. By collaborating with other pharmaceutical companies or acquiring complementary assets, Collegium can diversify its revenue streams and reduce its reliance on a limited number of products. The pharmaceutical industry is characterized by consolidation, and Collegium can benefit from participating in this trend. Timeline: Ongoing.
• International Expansion: Collegium can explore opportunities to expand its operations into international markets. By partnering with local distributors or establishing its own sales force, Collegium can bring its pain management medications to patients in other countries. The global pain market is substantial, and Collegium can tap into this market by expanding its geographic footprint. Timeline: 2027-2029.
• Development of Novel Pain Management Therapies: Collegium can invest in research and development to create novel pain management therapies that address unmet needs in the market. By focusing on innovative approaches to pain relief, Collegium can differentiate itself from competitors and establish a leadership position in the industry. The market for novel pain therapies is growing rapidly, driven by the limitations of existing treatments. Timeline: 2028-2030.

What Are COLL's Competitive Advantages?

• Proprietary abuse-deterrent technology.
• Patent protection for key products.
• Established relationships with healthcare providers.
• Brand recognition in the pain management market.

What Does COLL Do?

Collegium Pharmaceutical, Inc., established in 2002 and headquartered in Stoughton, Massachusetts, is a specialty pharmaceutical company dedicated to developing and commercializing innovative medicines for pain management. The company's core focus lies in creating formulations that address the challenges of opioid abuse while providing effective pain relief. Collegium's journey began with a commitment to improving the lives of patients suffering from chronic pain by offering safer and more manageable treatment options. The company changed its name to Collegium Pharmaceutical, Inc. in October 2003. Collegium's portfolio includes Xtampza ER, an abuse-deterrent, extended-release, oral formulation of oxycodone, designed to reduce the potential for misuse and abuse. Additionally, the company markets Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, offering alternative pain relief options. Xtampza ER is specifically indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Collegium's products are available in the United States, targeting patients with chronic pain conditions who require opioid therapy. Collegium Pharmaceutical operates within the highly regulated pharmaceutical industry, adhering to strict guidelines set by the Food and Drug Administration (FDA). The company's success is driven by its ability to innovate in formulation technology, navigate the regulatory landscape, and effectively commercialize its products to healthcare providers and patients. Collegium continues to focus on research and development to expand its portfolio and address unmet needs in pain management.

What Products and Services Does COLL Offer?

• Develop and commercialize pain management medications.
• Offer abuse-deterrent opioid formulations.
• Provide extended-release and immediate-release pain relief options.
• Focus on improving the lives of patients suffering from chronic pain.
• Market Xtampza ER, an abuse-deterrent, extended-release, oral formulation of oxycodone.
• Market Nucynta ER and Nucynta IR, extended-release and immediate-release formulations of tapentadol.

How Does COLL Make Money?

• Develop proprietary formulations of pain medications.
• Obtain regulatory approvals from the FDA.
• Manufacture and market their products through a sales force.
• Generate revenue through sales of prescription medications.

What Industry Does COLL Operate In?

Collegium Pharmaceutical operates within the specialty pharmaceutical industry, which is characterized by high research and development costs, stringent regulatory requirements, and intense competition. The market for pain management medications is substantial, driven by the prevalence of chronic pain conditions and the aging population. However, the opioid crisis has led to increased scrutiny and regulatory efforts to curb opioid abuse. Collegium's focus on abuse-deterrent formulations positions it favorably within this evolving landscape, as healthcare providers and patients seek safer alternatives. The industry is also influenced by patent expirations, generic competition, and the rise of biosimilars, requiring companies to continually innovate and protect their intellectual property.

Who Are COLL's Key Customers?

• Patients suffering from chronic pain conditions.
• Healthcare providers who prescribe pain medications.
• Pharmacies that dispense prescription medications.

Over the past six months, Collegium Pharmaceutical, Inc. insiders filed 19 SEC Form 4 transactions — 9 sales and 10 purchases. On net that is roughly 30K shares acquired (about $1.4M) — insiders putting money in tends to read as conviction.

Collegium Pharmaceutical, Inc. has beaten Wall Street's EPS estimate in 7 of its last 8 reported quarters — a consistent record of delivering on expectations. Reported results have landed about 8.5% above estimates on average.

Collegium Pharmaceutical, Inc.'s Piotroski F-Score is 5/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.94 places it in the distress zone, a signal of elevated financial risk.

Return on equity for Collegium Pharmaceutical, Inc. stands at 27.4%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 7.6%, showing how much profit it generates from its asset base. COLL trades at a trailing price-to-earnings ratio of 14.98, below the Healthcare sector average of ~21.50x. A current ratio of 1.71 indicates the company holds enough short-term assets to cover its near-term obligations.

Collegium Pharmaceutical, Inc. (COLL) Valuation Context

Valued at $743M, COLL is classified as a small-cap stock. Analyst price targets span from $45.00 to $49.00, with a consensus of $47.33. At the current price of $22.92, that implies approximately 107% upside potential. Relative to its peer group, COLL's quantitative score of 74/100 is roughly in line with the peer average of 64/100.

COLL Revenue & Earnings Trend

In Q2 FY2026, COLL generated $199.9M in top-line revenue, marking a sequential increase of 3.3%. The company recorded a net loss of $15.1M, with diluted EPS of $-0.46. Quarter-over-quarter revenue has been mixed, typical for a small-cap company operating in Healthcare. Across the four most recent quarters, COLL averaged $0.28 in diluted EPS.

Company Profile

Collegium Pharmaceutical, Inc. operates in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. It is headquartered in Stoughton, US. The company is led by CEO Vikram Karnani. COLL has traded publicly since 2015.

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Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

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