Collegium Pharma (COLL): Cutting Estimates But Believe Weak Xtampa Volumes Are Temporary - Piper Jaffray

August 11, 2016 6:34 AM EDT
Get Alerts COLL Hot Sheet
Price: $14.49 -1.83%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Piper Jaffray analyst, David Amsellem, reiterated his Overweight rating on shares of Collegium Pharmaceutical (NASDAQ: COLL) after reporting 2Q16 financial results. The company launched Xtampza ER, its extended-release (ER), abuse-deterrent form of oxycodone, this past June but management is still awaiting the FDA sign-off on the Xtampza ER promotional materials, and that along with summer seasonality has played a role in the limited volumes thus far.

The analyst continues to believe that Xtampza ER's differentiation versus OxyContin should drive significant traction for the product. Peak sales in the neighborhood of $500M or more are realistic, pointing to an attractive risk/reward profile in the context of a market cap of around $275M.

The price target of $23.00 drops from $27.00 based on a consistent P/E of 17x 2019 EPS of $1.92, down from $2.41.

For an analyst ratings summary and ratings history on Collegium Pharmaceutical click here. For more ratings news on Collegium Pharmaceutical click here.

Shares of Collegium Pharmaceutical closed at $11.74 yesterday.

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