Stock Track | Collegium Pharmaceutical Soars 5.18% as Multiple Analysts Raise Price Targets

Stock Track11-07

Collegium Pharmaceutical (COLL) shares are surging 5.18% in Friday's trading session, buoyed by a series of analyst upgrades and increased price targets. The pharmaceutical company has captured the attention of Wall Street, with several prominent research firms expressing optimism about its future prospects.

H.C. Wainwright led the charge by raising its price target for Collegium from $44 to $46, while maintaining a "Buy" rating. This move was quickly followed by Truist Securities, which increased its target from $45 to $48, also reiterating a "Buy" recommendation. Not to be left behind, Needham joined the bullish chorus, lifting its price target from $46 to $48.

The wave of positive analyst sentiment has culminated in an average "Buy" rating for Collegium Pharmaceutical, with a mean price target of $46.80, according to analysts polled by FactSet. This optimistic outlook from Wall Street experts appears to be the primary catalyst for today's significant stock price appreciation, as investors react to the improved growth projections and show renewed confidence in the company's potential.

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