Collegium Pharma (COLL): Cutting PT On Expenses But 1Q Could Be An Inflection - Jefferies
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Jefferies analyst, David Steinberg, reiterated his Buy rating on shares of Collegium Pharmaceutical (NASDAQ: COLL) but cut his price target to $24 from $27 after higher than expected SG&A spending led to a modestly higher loss.
That said, the company now has sufficient cash for operations into 2019 following a recent $80M financing. The analyst thinks that based on progress in the commercial launch and recent formulary wins, Xtampza Rxs are positioned for an inflection in 1H17 which could be meaningful to results since the analyst is projecting it to be a $400M+ peak product.
Shares of Collegium Pharmaceutical closed at $16.84 yesterday.
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