Collegium Pharma (COLL): Management Changes A Positive - Needham

Needham & Company analyst, Serge Belanger, reiterated his Buy rating on shares of Collegium Pharmaceutical (NASDAQ: COLL) after the company announced two key executive personnel changes after the market close.

The company announced that Barry Duke, the Executive Vice-President and Chief Commercial Officer is leaving the company while hiring Joseph Ciaffoni to a newly created position of Executive Vice-President and Chief Operating Officer. Mr. Ciaffoni was previously President of U.S. Branded Pharmaceuticals at Endo Pharmaceuticals and has held other senior management positions at
Biogen and Shionogi.

The analyst views these moves as an "upgrade of the senior management ranks and the indication of COLL's willingness to address changes to reinvigorate Rx growth".

No change to the price target of $25.

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 $8.32 yesterday.

You May Also Be Interested In

• Needham Starts Hyliion Holdings (HYLN) at Buy
• Needham: 'AAPL WWDC Risks: GOOGL Dependency, Installed Base Durability, AI Monetization'
• Bernstein SocGen Group Starts Keurig Dr Pepper (KDP) at Outperform, 'outstanding Functional Beverages portfolio'