Collegium Pharmaceutical Stock Gains 12% in Three Months: Here's Why

Shares of Collegium Pharmaceutical COLL have gained around 12% over the past three months, driven by growing investor confidence in the company's expanding commercial portfolio, durable revenue base and long-term growth strategy.Jornay PM Continues to Drive COLL’s ADHD Franchise GrowthA key driver of this momentum has been the continued strong performance of Collegium Pharmaceutical's attention deficit hyperactivity disorder (ADHD) franchise, led by Jornay PM. During the first quarter of 2026, Jornay PM recorded more than 206,000 prescriptions, up 14% year over year, reflecting strong prescription growth and increasing physician adoption. Sales of the drug increased 36% year over year in the quarter, driven by successful commercial execution and increased market penetration. As a differentiated evening-dosed ADHD therapy, Jornay PM has emerged as the company's fastest-growing commercial product, reinforcing confidence in its long-term growth potential.Year to date, shares of COLL have lost 21.7% compared with the industry’s 5.3% decline.Image Source: Zacks Investment ResearchAzstarys Acquisition Strengthens COLL’s Growth OutlookInvestor sentiment was strengthened following the completion of Collegium Pharmaceutical's acquisition of Azstarys from Corium Therapeutics last month. The transaction represents a significant strategic milestone, enhancing the company's position in the ADHD market while expanding its central nervous system portfolio. Azstarys is the first and only treatment with both immediate-release and long-acting medicines in a single capsule approved for the treatment of ADHD in patients aged six years and older. The drug complements the company's existing Jornay PM franchise and broadens its treatment offerings for patients.The acquisition is expected to be immediately accretive to earnings, prompting Collegium Pharmaceutical to raise its 2026 financial guidance. COLL expects 2026 product revenues to be in the range of $865-$895 million compared with prior guidance of $805 to $825 million. With patent protection extending through 2037, Azstarys is expected to meaningfully expand Collegium Pharmaceutical's revenue base and enhance long-term cash flow generation.Beyond its growing ADHD franchise, Collegium Pharmaceutical continues to benefit from a well-established pain management business that provides a stable, recurring source of revenues and cash flow. COLL’s pain portfolio includes Xtampza ER, Belbuca, Nucynta ER, Nucynta IR and Symproic, which collectively address chronic and acute pain, as well as opioid-induced constipation.Collegium Pharmaceutical, Inc. Price and Consensus Collegium Pharmaceutical, Inc. price-consensus-chart | Collegium Pharmaceutical, Inc. QuoteCOLL’s Zacks Rank & Other Stocks to ConsiderCollegium Pharmaceutical currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the biotech sector are Immunocore IMCR, Amarin Corporation AMRN and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents per share. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 8.5% year to date.Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.Over the past 60 days, loss per share estimates for Amarin Corporation have narrowed from $15.20 to 65 cents for 2026. Over the same period, estimates for loss per share have also narrowed from $13.00 to 51 cents for 2027. AMRN shares have risen 14.6% year to date.Amarin Corporation’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 50.02%.Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.92 from $2.91. LQDA shares have gained 131.1% year to date.Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. 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