COLL, US19459J1043

Collegium Pharmaceutical stock reports ADHD growth in Q2

Published on 10/05/2026 at 22:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Collegium Pharmaceutical stock closed at USD 22.02 on October 2, 2026, after Q2 revenue reached USD 199.9 million. Jornay PM revenue rose 41 percent to USD 46.1 million.

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Collegium Pharmaceutical (ISIN US19459J1043) reported USD 199.9 million in Q2 2026 net product revenue, up 6 percent year over year, while its ADHD portfolio supplied the clearest growth signal. The results were published for the quarter ended June 30, 2026, and included a broader 2026 revenue outlook of USD 825 million to USD 855 million, according to Benzinga on October 5, 2026.

ADHD revenue leads Q2 growth

Jornay PM generated USD 46.1 million in Q2 revenue, an increase of 41 percent from the same quarter of 2025. Prescriptions rose 13.1 percent year over year, and more than 30,000 healthcare providers wrote prescriptions for the medicine during the quarter, up 17.6 percent.

Azstarys contributed USD 12.9 million in its first partial quarter after Collegium completed the acquisition in May 2026. The company also raised its full-year Azstarys revenue outlook to USD 65 million to USD 75 million, while keeping Jornay PM guidance at USD 190 million to USD 200 million, according to Benzinga.

Guidance balances growth and pressure

The guidance range implies an 8 percent year-over-year increase at its midpoint, but adjusted EBITDA is projected at USD 445 million to USD 470 million, essentially flat against 2025. The counter-factor is the pain portfolio, where Nucynta franchise revenue fell 24 percent year over year to USD 35.2 million because of lower net pricing for authorized generics.

Q2 adjusted EPS was USD 1.92, compared with USD 1.68 in the prior-year quarter, while GAAP diluted loss per share was USD 0.46. Operating cash flow reached USD 71.3 million, giving the company financial capacity while it integrates Azstarys and manages the weaker Nucynta pricing.

Analysts see wide upside gap

MarketBeat listed a Moderate Buy consensus from 9 analysts, with an average price target of USD 48.71, a high target of USD 60.00 and a low target of USD 43.00. Against the USD 22.02 closing price on October 2, 2026, the average target lies 121.2 percent above the price.

Oppenheimer initiated coverage with an Outperform rating and a USD 50.00 price target on September 23, 2026, according to Nasdaq. That view puts the ADHD expansion and the cash generation of the pain portfolio at the center of the valuation debate.

Stock holds near yearly low

Collegium stock closed at USD 22.02 on Nasdaq on October 2, 2026. The 52-week range was USD 21.43 to USD 50.79, market capitalization was USD 717.0 million and reported volume was 694,008 shares.