Core Insights - Collegium Pharmaceutical (COLL) and Masimo Corporation (MASI) are highlighted as strong buy stocks due to rising earnings estimate revisions and their respective market positions in the medical sector [1][2]. Collegium Pharmaceutical (COLL) - Collegium is recognized as an undervalued specialty pharmaceutical company focusing on central nervous system, respiratory, and skin-related disorders [1]. - The company is projected to achieve a 20% increase in revenue and a 9% increase in earnings this year, with low-single digit growth expected for fiscal 2026 [3]. - Collegium's stock is trading at a forward earnings multiple of 5X and a sales multiple of less than 2X, significantly below the S&P 500 averages and the Zacks Medical-Drugs Industry average of 15.5X forward earnings and 3.4X forward sales [4]. - EPS projections for Collegium have risen to over $7 per share, distinguishing it from over 130 smaller-cap pharmaceutical companies that are currently unprofitable [5]. Masimo Corporation (MASI) - Masimo is noted for its non-invasive health monitoring systems, which provide real-time insights into patient physiology [2]. - The company is expected to see a 20% increase in annual earnings for FY25, reaching $5.30 per share, up from $4.40 last year, with a further 7% increase projected for FY26 [7]. - Masimo's stock trades at a forward earnings multiple of 26.5X, slightly above the Zacks Medical-Instruments Industry average of 23.5X, indicating a justified premium due to its growth prospects [7]. Market Context - Both Collegium and Masimo have experienced significant EPS revisions over the last 60 days, making them attractive options for growth and value in a market characterized by high volatility [9].

Investors might want to bet on Collegium Pharmaceutical (COLL) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since ...

Summary of Collegium Pharmaceutical FY Conference Call Company Overview - Collegium Pharmaceutical is a leading biopharmaceutical company focused on two main areas: pain management and ADHD treatments. The pain franchise generates approximately $600 million in net sales, while the ADHD product, Jorn APM, is projected to achieve net sales of $1.40 to $1.45 billion, up from previous guidance of $135 million [5][6]. Financial Performance - The company expects total net sales for the year to be between $745 million and $760 million, with an EBITDA margin approaching 60% [6]. - Since 2021, Collegium has returned over $220 million to shareholders through share repurchase programs, with a new authorization for up to $150 million through 2026 [6][7]. ADHD Product - Jorn APM - Jorn APM is differentiated as the only ADHD medication taken at night, providing a delayed and extended release profile that addresses morning transition issues for patients [10][11]. - The company has seen strong momentum in prescriptions, particularly in the back-to-school season, which is expected to drive demand in the second half of the year [12][14]. - The gross-to-net improvement and the seasonal demand are key drivers for the raised guidance [14]. Market Dynamics and Growth Strategy - Collegium is expanding its sales force from 125 to 180 representatives to increase physician awareness and engagement, targeting a broader set of prescribers [28][30]. - The company is also investing in direct-to-consumer (DTC) marketing to raise awareness among parents and caregivers about Jorn APM [30]. Pain Management Portfolio - The pain portfolio continues to generate significant revenue, with a reported 7% year-over-year growth in Q2, despite pressures on prescriptions [36]. - Collegium is confident in its exclusivity projections for its pain products, noting that no competitors have satisfied all criteria for generic entry, which may extend the product life cycle [38][39]. Capital Allocation and Future Outlook - Collegium maintains a disciplined capital deployment strategy, balancing acquisitions, share repurchases, and debt reduction [42][45]. - The company aims to reduce its net debt over EBITDA ratio to below one by the end of the year, enhancing its financial flexibility for future acquisitions [45]. Reimbursement Strategy - The ADHD product has strong reimbursement coverage, with 65% commercial and 35% Medicaid coverage, and an aggressive co-pay program to offset patient costs [31][32]. Conclusion - Collegium Pharmaceutical is positioned for growth with a strong product portfolio in pain management and ADHD, a disciplined financial strategy, and a focus on increasing market share through enhanced sales efforts and consumer awareness initiatives [6][42].

Core Insights - The company has experienced significant progress in the past ten months under the new CEO, Vikram Karnani, highlighting a productive year ahead in 2025 [1][2] - A key strategic priority for the company is to maximize the growth of Jornay PM, which was acquired through the purchase of Ironshore Therapeutics, marking the company's entry into the ADHD market [2]

Summary of Collegium Pharmaceutical FY Conference Call Company Overview - **Company**: Collegium Pharmaceutical (NasdaqGS: COLL) - **Industry**: Pharmaceutical, specifically focusing on ADHD and pain management medications Key Points Strategic Priorities 1. **Growth of Jornay PM**: - Acquired from Ironshore Therapeutics, Jornay PM is aimed at the ADHD market, with a focus on maximizing its growth. - Initial guidance for 2024 was $135 million, later raised to $140-145 million, indicating strong sales performance [2][4][11]. 2. **Pain Franchise Durability**: - The pain franchise generates approximately $600 million in net sales, with modest infrastructure and expected low single-digit growth. - Q2 demonstrated a 7% year-over-year growth, exceeding expectations [2][4][19]. 3. **Smart Capital Allocation**: - The company is focused on business development, share repurchases, and debt reduction. - Collegium has repurchased over $220 million in shares since 2021 and has a current authorization of $150 million for further repurchases [3][30][31]. Commercial Performance - **Jornay PM Commercialization**: - The product is differentiated as the only branded ADHD medication dosed in the evening, providing efficacy upon waking. - There was a 23% increase in prescribers year-over-year, with 26,000 prescribers reported [6][10][18]. - **Market Trends**: - Average weekly prescriptions for Jornay PM increased by 1,200 in August compared to July, indicating strong demand during the back-to-school season [8][12]. Market Opportunity - **ADHD Market Size**: - The ADHD market consists of 22 million patients and 100 million prescriptions annually, growing at a 6% CAGR over the last five years [15][16]. - **Pain Franchise Longevity**: - The pain franchise is protected from generic competition due to stringent regulatory and manufacturing requirements, ensuring long-term revenue stability [20][22]. Business Development Criteria - Collegium seeks commercial or near-commercial assets with peak sales potential exceeding $300 million and longevity in intellectual property extending into the mid-2030s [26][27]. Financial Health - **Leverage and Debt Management**: - The company has a net debt to EBITDA ratio of 1.4 times, expected to decrease to below 1 by year-end. - Collegium is comfortable with leverage up to 3 times for strategic acquisitions [30][32]. Future Outlook - **Growth Expectations**: - Continued growth in Jornay PM and the pain franchise is anticipated, with a focus on leveraging existing sales infrastructure for new product introductions [33][42]. - **Long-term Vision**: - The company aims to enhance its ADHD portfolio while maintaining profitability from its pain business, ensuring shareholder value through strategic investments and capital allocation [41][43]. Investor Engagement - Collegium emphasizes the importance of educating investors on the growth potential of Jornay PM, the durability of the pain franchise, and its capital allocation strategy [36][37]. Additional Insights - The company is optimistic about the impact of recent investments in marketing and sales force expansion, expecting to see significant results in 2026 [14][35]. - The absence of competitive threats in the pain market is seen as a confidence booster for investors regarding the franchise's durability [38][40]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Collegium Pharmaceutical's growth strategies, market opportunities, and financial health.

Core Insights - Collegium Pharmaceutical, Inc. will present nine posters at PAINWeek 2025, showcasing real-world data from its pain management portfolio, emphasizing its commitment to responsible pain management [1][42] - The poster session is scheduled for September 4, 2025, from 4 – 5:30 p.m. PT, aimed at providing healthcare professionals with insights to support clinical decision-making [2] Group 1: Research Presentations - The posters will include analyses on the treatment characteristics and safety of Belbuca and other opioid treatments among chronic low back pain patients [3] - Specific studies will cover the economic burden of transitioning patients from short-acting opioids to Belbuca, as well as the safety profiles of these medications [3][5] - Additional research will focus on opioid use disorder outcomes and clinical outcomes translated to healthcare costs [5][6] Group 2: Company Overview - Collegium is focused on building a diversified biopharmaceutical company with a strong portfolio in responsible pain management and has recently expanded into neuropsychiatry with the acquisition of Jornay PM [42] - The company's strategy includes growing its commercial portfolio, with Jornay PM identified as a key growth driver [42]

Core Insights - Collegium Pharmaceutical reported $188 million in revenue for the quarter ended June 2025, marking a year-over-year increase of 29.4% and an EPS of $1.68 compared to $1.62 a year ago [1] - The revenue exceeded the Zacks Consensus Estimate of $180.38 million by 4.23%, and the EPS also surpassed the consensus estimate of $1.62 by 3.7% [1] Revenue Breakdown - Total product revenues for Belbuca were $52.6 million, slightly below the average estimate of $54.94 million, reflecting a year-over-year change of +0.8% [4] - Xtampza ER generated $52.61 million, exceeding the average estimate of $48.28 million, with an 18% increase compared to the previous year [4] - Jornay PM reported revenues of $32.63 million, slightly above the average estimate of $32.23 million [4] - Nucynta achieved $46.45 million in revenues, surpassing the average estimate of $43.31 million, representing a year-over-year change of +4.4% [4] - Symproic revenues were $3.72 million, exceeding the average estimate of $3.45 million, but showing a decline of 7.7% year-over-year [4] Stock Performance - Collegium Pharmaceutical's shares have returned -8.1% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

分组1 - Collegium Pharmaceutical reported quarterly earnings of $1.68 per share, exceeding the Zacks Consensus Estimate of $1.62 per share, and showing an earnings surprise of +3.70% [1] - The company achieved revenues of $188 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 4.23%, compared to $145.28 million in the same quarter last year [2] - Over the last four quarters, Collegium Pharmaceutical has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] 分组2 - The stock has added approximately 3.8% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.80 on revenues of $188.37 million, and for the current fiscal year, it is $6.90 on revenues of $747.55 million [7] - The Zacks Industry Rank for Medical - Drugs is currently in the top 35% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - The company reported record revenue growth of 29% year over year, with adjusted EBITDA increasing by 9% year over year [6][21][22] - Net product revenues reached $188 million, with Jornay PM contributing $32.6 million, BELBUCA at $52.6 million (up 1%), Xtampza at $52.6 million (up 18%), and Nucynta franchise at $46.4 million (up 4%) [22][23] - GAAP net income was $12 million, down from $19.6 million in the prior year, while non-GAAP adjusted earnings per share increased to $1.68 from $1.62 [23][24] Business Lines Performance - Jornay PM prescriptions grew by 23% year over year, with record quarterly revenues of $32.6 million [6][22] - The pain portfolio generated record revenues of $155.4 million, up 7% year over year, with all three core pain medicines showing growth [6][18] Market Data - Jornay PM's market share in the long-acting branded methylphenidate market grew to 23%, up 7.6 percentage points year over year [15] - The company expanded its prescriber base for Jornay PM to over 26,000, a 23% increase compared to the previous year [15][35] Company Strategy and Industry Competition - The company aims to build a diversified biopharmaceutical portfolio, focusing on significant growth for Jornay PM and maximizing the pain portfolio [4][9] - The company is committed to strategic capital deployment, including share repurchases and business development opportunities [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver on financial and strategic commitments, raising 2025 revenue guidance to approximately 19% growth year over year [8][28] - The company is focused on increasing awareness of Jornay PM among healthcare providers and patients, particularly in the adult ADHD market [12][17] Other Important Information - The company completed a $25 million accelerated share repurchase program and announced a new $150 million share repurchase program [7][26] - The company ended the quarter with $222.2 million in cash and cash equivalents, while reducing debt by $16.1 million [10][24] Q&A Session Summary Question: What is the target goal for additional prescribers for Jornay PM by year-end? - Management indicated that there is no specific goal for prescribers but expects continued growth in prescriber breadth [34][35] Question: What are the specific levers for growth in the third quarter? - Management highlighted the importance of raising awareness among healthcare providers and patients to drive prescriptions [51] Question: Any updates on generic competition for the pain portfolio? - Management noted that there are no immediate threats from generics due to regulatory and manufacturing barriers [53][56] Question: How does the company view potential business development opportunities? - Management stated a commitment to disciplined assessment of potential opportunities, focusing on commercial-ready assets [60][61]

Financial Performance - Collegium reported Q2 2025 product revenues of $188.0 million, a 29% increase compared to $145.3 million in Q2 2024 [20] - Adjusted EBITDA for Q2 2025 was $105.1 million, a 9% increase compared to $96.0 million in Q2 2024 [20] - The company raised its 2025 financial guidance for net product revenues to a range of $745 million to $760 million, representing a 19% year-over-year change [47] - Adjusted EBITDA guidance was raised to a range of $440 million to $455 million, a 12% year-over-year increase [47] - Adjusted operating expenses guidance was raised to a range of $225 million to $235 million, a 53% year-over-year increase [47] Business Highlights - Q2 2025 saw a 23% year-over-year growth in prescriptions for the pain portfolio [20] - The company had $222.2 million in cash, cash equivalents, and marketable securities, up $59.4 million from December 2024 [20] - Collegium completed a $25 million Accelerated Share Repurchase (ASR) in July 2025 and has authorized a $150 million share repurchase program through December 2026 [20, 51] Jornay PM Performance & Strategy - Jornay PM revenue is expected to be between $140 million and $145 million in 2025, representing a 42% increase [36] - The company is investing in Jornay PM to support near-term growth and drive significant momentum in 2026 and beyond [37]