Collegium Pharmaceutical price target lowered to $31 from $33 at Truist

Truist lowered the firm’s price target on Collegium Pharmaceutical to $31 from $33 but keeps a Buy rating on the shares as part of a broader research note previewing Q3 earnings in BioPharma. The company’s performance could disappoint as tepid script data is likely not reflected in Street estimates, the analyst tells investors in a research note, also stating that Collegium continues to face opioid market script erosion despite improved pricing. Truist adds however that a healthy balance sheet and potential deal outside of pain keeps the firm bullish.