Collegium Pharmaceutical Inc (COLL): Jefferies upgrades Collegium to buy, cit...

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Friday, 06/07/2024 1:31:28 PM

Friday, June 07, 2024 1:31:28 PM

Jefferies upgrades Collegium to buy, cites upside related to LOEs -

Jun. 07, 2024 12:13 PM ET

Jefferies upgraded Collegium (NASDAQ:COLL) to buy, stating it believes the upside potential related to upcoming losses of market exclusivity for Collegium's drugs Nucynta and Belbuca is underappreciated.

The investment bank said it sees several drivers for the drugs despite the LOEs, including a Nucynta partnership with Hikma, pediatric extensions for Nucynta, and uncertainty about Teva's launch of a generic version of Belbuca. It also believes 2024 EBITDA consensus is “too low.”

Jeffries also noted that the company’s cash generation was “significant,” with its net cash expected to eclipse its market cap in fiscal 2028. It added that the company “could likely take itself private in the 2028 timeframe.”

Jefferies set its price target for the stock at $44.

https://seekingalpha.com/news/4114181-jefferies-upgrades-collegium-to-buy-cites-upside-related-to-loes?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain

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