H.C. Wainwright upgraded Collegium Pharmaceutical to Buy from Neutral with a $47 price target. The acquisition of Ironshore Therapeutics adds a “differentiated” ADHD asset to bolster its portfolio, the analyst tells investors in a research note. The firm cites increased longer term optimism for the upgrade of Collegium. The deal is a “long-awaited move” to diversify from the pain market, and add a meaningful product with patents into the 2030s, contends the firm.
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Read More on COLL:
- Collegium Pharmaceutical’s Merger, Loan, and Board Reshuffle
- Collegium to Acquire Ironshore Therapeutics, Expanding into Neurology
- Collegium Pharmaceutical backs FY24 net product revenue view $580M-$595M
- Collegium Pharmaceutical sees Q2 net product revenue ~$145M, up 7% y/y
- Collegium Pharmaceutical to acquire Ironshore Therapeutics for $525M in cash