Transaction details
Collegium Pharmaceutical (NASDAQ: COLL) Executive Vice President and General Counsel Dieter David sold 13,976 shares of common stock on March 18, 2026, generating approximately $488,099 in proceeds. The shares were disposed of at a weighted average price of $34.9241, with individual trade prices spanning from $34.74 to $35.39. After the sale, David directly holds 77,071 shares in Collegium.
The sale was carried out pursuant to a pre-arranged Rule 10b5-1 trading plan that David adopted on December 5, 2025.
Market context and valuation note
At the time of the transaction the stock was trading near $35.50 and has declined by about 22% so far year-to-date. InvestingPro Fair Value estimates cited alongside the trade indicate that Collegium may be trading below an intrinsic valuation implied by those models.
Recent operating results and strategic move
Collegium reported fourth-quarter 2025 results in which earnings per share were $2.04, below the consensus expectation of $2.14. Revenue for the quarter came in at $205.45 million, narrowly under the expected $207.07 million.
Separately, the company announced a definitive agreement to acquire AZSTARYS from Corium Therapeutics for $650 million in upfront consideration, with contingent milestone payments of up to $135 million. AZSTARYS, an ADHD treatment, produced more than 760,000 prescriptions in 2025.
Analysts' positioning
Following the acquisition announcement, Jefferies maintained a Buy rating on Collegium with a $51.00 price target. After the earnings release and a recent conference in Miami, Barclays reiterated an Overweight rating and assigned a $56.00 price target. Barclays noted that Collegium's fundamentals appear undervalued, pointing to limited overseas exposure in revenue and supply chain as relevant factors.
Where to find further analysis
Investors seeking additional financial and executive-transaction analysis can consult the InvestingPro Pro Research Report, which is available for this company and more than 1,400 U.S. equities.
The facts above reflect the company disclosure and analyst commentary as reported around the transaction and recent corporate announcements.