Collegium Pharmaceutical Inc (COLL)

[floblu14]

Collegium Pharmaceutical: Delivering On Promises - SEEKING ALPHA
Oct. 24, 2023 2:59 PM ETCollegium Pharmaceutical, Inc. (COLL)

Bret Jensen

Summary
Today, we revisit Collegium Pharmaceutical, Inc., which has seen a 30% increase in its stock price since our last look at it in June 2022.
Collegium Pharmaceutical has done a good job integrating Belbuca into its product portfolio, paying down debt and recently accelerating a stock buyback program.

Excerpts:
The company ended the first half of 2023 with approximately $325 million worth of cash and marketable securities on its balance sheet.

Verdict:
The company lost 74 cents a share in FY2022 on revenues of nearly $464 million. The current analyst firm consensus has the company having profits of $1.03 a share as sales rise by some $100 million. Earnings per share are projected to leap to just over $2.75 a share in FY2024 on sales growth in the mid-single digits.

Collegium Pharmaceutical, Inc. stock is cheap based on FY2024 profit estimates. Nucynta and Belbuca will lose patent exclusivity in 2027. However, management has stated that "our base case long-range plan, net of paying off our term loan is that it will have greater than $1 billion of cash on hand at the end of 2027." The company has done a good job of integrating Belbuca within its product portfolio and driving growth while containing expenses.

Read more:
https://seekingalpha.com/article/4643002-collegium-pharmaceuticals-delivering-on-promises