Zacks Research Downgrades Collegium Pharmaceutical (NASDAQ:COLL) to Strong Sell

Key Points

• Zacks Research downgraded Collegium Pharmaceutical to “strong sell” from “hold,” although analyst opinions remain mixed. The stock has a consensus “hold” rating and a consensus price target of $48.71.
• COLL opened at $21.93 and is near its one-year low of $21.43, well below its 50-day and 200-day moving averages of $25.68 and $31.38, respectively.
• Despite the bearish rating, Collegium exceeded quarterly earnings expectations, reporting $1.92 EPS versus $1.72 expected and revenue of $199.88 million, up 6.3% year over year.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday, Zacks reports.

Several other equities analysts have also recently weighed in on COLL. Leerink Partners assumed coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 9th. They issued an "outperform" rating and a $45.00 target price for the company. Barclays decreased their price objective on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Wall Street Zen lowered shares of Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler reaffirmed a "neutral" rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. Finally, Truist Financial initiated coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 9th. They issued a "buy" rating and a $49.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $48.71.

Collegium Pharmaceutical Trading Up 0.2%

Collegium Pharmaceutical stock opened at $21.93 on Tuesday. The company has a market cap of $714.04 million, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.70 and a beta of 0.73. The firm has a 50-day moving average of $25.68 and a 200-day moving average of $31.38. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.03 and a quick ratio of 0.84. Collegium Pharmaceutical has a one year low of $21.43 and a one year high of $50.79.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last released its earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.20. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%.The business had revenue of $199.88 million for the quarter, compared to the consensus estimate of $199.62 million. During the same quarter in the previous year, the business earned $1.68 earnings per share. Collegium Pharmaceutical's quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Collegium Pharmaceutical will post 6.21 earnings per share for the current fiscal year.

Institutional Trading of Collegium Pharmaceutical

A number of institutional investors have recently bought and sold shares of COLL. Caitong International Asset Management Co. Ltd increased its holdings in shares of Collegium Pharmaceutical by 205.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 635 shares of the specialty pharmaceutical company's stock worth $29,000 after purchasing an additional 427 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Collegium Pharmaceutical by 42.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,408 shares of the specialty pharmaceutical company's stock worth $47,000 after purchasing an additional 418 shares during the period. Assetmark Inc. raised its stake in Collegium Pharmaceutical by 9.3% in the first quarter. Assetmark Inc. now owns 3,923 shares of the specialty pharmaceutical company's stock valued at $130,000 after purchasing an additional 335 shares in the last quarter. Allworth Financial LP acquired a new position in Collegium Pharmaceutical in the second quarter valued at about $175,000. Finally, EverSource Wealth Advisors LLC lifted its position in Collegium Pharmaceutical by 20.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,035 shares of the specialty pharmaceutical company's stock worth $167,000 after purchasing an additional 861 shares during the period.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing, acquiring and commercializing medicines for central nervous system disorders. The company's portfolio is concentrated in pain management and includes products for chronic and acute pain, opioid-induced constipation and related conditions.

Collegium's marketed products include Xtampza ER, an extended-release oxycodone formulation designed with the company's DETERx abuse-deterrent technology; Nucynta and Nucynta ER, tapentadol products for acute and chronic pain; Belbuca, a buprenorphine buccal film for chronic pain; and Symproic, a treatment for opioid-induced constipation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.