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Collegium Pharmaceutical (COLL) Soars 10.6%: Is Further Upside Left in the Stock?
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Collegium Pharmaceutical (COLL - Free Report) shares rallied 10.6% in the last trading session to close at $38.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7% gain over the past four weeks.
Earlier this week, the company announced a definitive agreement to acquire a privately held, pharmaceutical company, Ironshore, for $525 million in cash with the potential for an additional $25 million commercial milestone payment. The acquisition will add Jornay PM, a medicine for the treatment of attention deficit hyperactivity disorder in people six years of age and older to Collegium’s portfolio, thereby establishing the company’s presence in neurology. This might have driven the share price rally.
This specialty pharmaceutical company is expected to post quarterly earnings of $1.45 per share in its upcoming report, which represents a year-over-year change of +15.1%. Revenues are expected to be $142.2 million, up 4.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Collegium Pharmaceutical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on COLL going forward to see if this recent jump can turn into more strength down the road.
Collegium Pharmaceutical is part of the Zacks Medical - Drugs industry. Rigel Pharmaceuticals (RIGL - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $10.64. RIGL has returned 26.2% in the past month.
For Rigel, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. This represents a change of +7.5% from what the company reported a year ago. Rigel currently has a Zacks Rank of #3 (Hold).
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Collegium Pharmaceutical (COLL) Soars 10.6%: Is Further Upside Left in the Stock?
Collegium Pharmaceutical (COLL - Free Report) shares rallied 10.6% in the last trading session to close at $38.60. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7% gain over the past four weeks.
Earlier this week, the company announced a definitive agreement to acquire a privately held, pharmaceutical company, Ironshore, for $525 million in cash with the potential for an additional $25 million commercial milestone payment. The acquisition will add Jornay PM, a medicine for the treatment of attention deficit hyperactivity disorder in people six years of age and older to Collegium’s portfolio, thereby establishing the company’s presence in neurology. This might have driven the share price rally.
This specialty pharmaceutical company is expected to post quarterly earnings of $1.45 per share in its upcoming report, which represents a year-over-year change of +15.1%. Revenues are expected to be $142.2 million, up 4.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Collegium Pharmaceutical, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on COLL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Collegium Pharmaceutical is part of the Zacks Medical - Drugs industry. Rigel Pharmaceuticals (RIGL - Free Report) , another stock in the same industry, closed the last trading session 0.3% higher at $10.64. RIGL has returned 26.2% in the past month.
For Rigel, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.37. This represents a change of +7.5% from what the company reported a year ago. Rigel currently has a Zacks Rank of #3 (Hold).