Shirley R. Kuhlmann, Executive Vice President and General Counsel of Collegium Pharmaceutical , Inc. (NASDAQ:COLL), a pharmaceutical company with impressive 86.66% gross profit margins and a market cap of $1.07 billion, recently reported significant stock transactions. The company's stock has shown strong momentum, gaining nearly 18% year-to-date. On January 10, Kuhlmann exercised stock options to acquire 27,500 shares of Collegium's common stock at a price of $21.34 per share. Following this acquisition, she sold a total of 27,500 shares in two separate transactions, with prices ranging from $32.8695 to $33.6427 per share. The total value of the shares sold amounted to $908,627.
These transactions were conducted under a pre-established Rule 10b5-1 trading plan adopted in September 2024. After these transactions, Kuhlmann holds 119,184 shares of Collegium's common stock directly.
In other recent news, Collegium Pharmaceuticals saw a robust 17% increase in total revenue and an 18% rise in adjusted EBITDA year-over-year, as reported in its third quarter 2024 earnings conference call. The integration of Ironshore Therapeutics and its ADHD treatment, Jornay PM, is expected to make a significant contribution to the company's net revenue, surpassing $100 million in 2024. Prescriptions for Jornay PM saw a substantial rise by 31.2%, due to back-to-school season demand.
Furthermore, the financial services firm Jefferies adjusted its stance on Collegium, lowering its price target on the stock to $40.00 from the previous $44.00, while maintaining a Buy rating. This revision followed Collegium's third-quarter results and the firm expressed continued optimism about the company's pain management portfolio. The analysts also highlighted the company's financial health management and the potential growth drivers such as Jornay PM.
The firm also noted the improving prospects for two of Collegium's products, Belbuca and Nucynta, as factors contributing to the company's value. Collegium also provided positive financial guidance for 2024, projecting net product revenues of $620 million to $635 million. The company's new CEO, Vikram Karnani, is expected to leverage his experience to further drive Collegium's growth.
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