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Collegium Pharmaceutical ( (COLL) ) has provided an update.
On May 12, 2026, Collegium Pharmaceutical completed its previously announced $650 million cash acquisition of the AZSTARYS ADHD business from Corium Therapeutics, adding a central nervous system stimulant with patent protection expected through 2037 to its growing ADHD portfolio. The deal, funded with a mix of cash and term loan financing plus potential milestone payments, prompted the company to raise its 2026 guidance, projecting net product revenues of $865 million to $895 million, adjusted EBITDA of $475 million to $500 million, and $60 million to $70 million in AZSTARYS revenue as it targets over $50 million in annual synergies.
In connection with the transaction, Collegium’s board adopted a 2026 Inducement Plan on May 11, 2026, authorizing equity awards tied to 325,000 shares for new hires without shareholder approval under Nasdaq rules to support ongoing talent recruitment. The company also announced leadership changes, with Chief Commercial Officer Scott Dreyer set to depart at the end of August 2026 and Chief Medical Officer Thomas Smith, M.D., to leave following a transition period, signaling an operational reshaping as Collegium integrates AZSTARYS and pursues an expanded role in the ADHD market.
The most recent analyst rating on (COLL) stock is a Buy with a $60.00 price target. To see the full list of analyst forecasts on Collegium Pharmaceutical stock, see the COLL Stock Forecast page.
Spark’s Take on COLL Stock
According to Spark, TipRanks’ AI Analyst, COLL is a Outperform.
The score is driven primarily by strong cash-flow-led financial performance (high margins and robust free cash flow) and a generally positive earnings-call setup (reaffirmed guidance and strong JORNAY momentum with expected AZSTARYS accretion/synergies). These positives are balanced by leverage risk (already elevated and expected to rise near term with the acquisition), and a technical picture that is improving but still below longer-term moving averages with elevated stochastic levels.
To see Spark’s full report on COLL stock, click here.
More about Collegium Pharmaceutical
Collegium Pharmaceutical, Inc. is a biopharmaceutical company focused on medicines for complex central nervous system and pain conditions, emphasizing formulation and delivery innovation. The company has built a differentiated portfolio of ADHD medications, now anchored by JORNAY PM and AZSTARYS, alongside an established leadership position in responsible pain management.
Average Trading Volume: 541,686
Technical Sentiment Signal: Buy
Current Market Cap: $1.23B
For an in-depth examination of COLL stock, go to TipRanks’ Overview page.