H.C. Wainwright analyst Oren Livnat raised the firm’s price target on Collegium Pharmaceutical to $50 from $47 and keeps a Buy rating on the shares after the company announced the closing of the Ironshore acquisition. The company issued updated 2024 guidance to include a partial year of Jornay PM sales that is ahead of estimates, the analyst tells investors in a research note. The firm increased forward revenue and margin estimates for Collegium on likely better Jornay PM economics than previously assumed.
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Read More on COLL:
- Collegium Pharmaceutical Announces Major Acquisition and Financing Deal
- Collegium Pharmaceutical completes acquisition of Ironshore for $525M in cash
- Collegium raises FY24 revenue view to $620M-$635M from $580M-$595M
- Collegium Completes Acquisition of Ironshore Therapeutics
- Collegium to Participate in H.C. Wainwright 26th Annual Global Investment Conference