Collegium Pharmaceutical, Inc. (NASDAQ:COLL) EVP Sells $184,863.83 in Stock

Key Points

• Scott Dreyer, Executive Vice President of Collegium Pharmaceutical, sold 4,861 shares for approximately $184,864, resulting in a 4.48% decrease in his ownership of the stock.
• The company's Board of Directors approved a $150 million stock repurchase program, indicating that they believe the stock is currently undervalued.
• Collegium Pharmaceutical has recently received multiple upgrades from brokerages, with HC Wainwright issuing a "strong-buy" rating and a price target of $44.00.

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report) EVP Scott Dreyer sold 4,861 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $38.03, for a total transaction of $184,863.83. Following the sale, the executive vice president directly owned 103,613 shares in the company, valued at $3,940,402.39. This trade represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Collegium Pharmaceutical Trading Up 1.6%

Shares of COLL traded up $0.58 on Friday, hitting $37.74. 352,185 shares of the stock traded hands, compared to its average volume of 367,559. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $1.19 billion, a P/E ratio of 36.29 and a beta of 0.68. The stock's 50 day moving average is $31.54 and its two-hundred day moving average is $29.82. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29.

Collegium Pharmaceutical declared that its Board of Directors has approved a stock repurchase program on Monday, July 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Collegium Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in Collegium Pharmaceutical by 453.9% during the second quarter. CWM LLC now owns 1,407 shares of the specialty pharmaceutical company's stock worth $42,000 after purchasing an additional 1,153 shares during the last quarter. Wealthquest Corp acquired a new position in Collegium Pharmaceutical during the first quarter worth approximately $62,000. Virtus Fund Advisers LLC increased its position in Collegium Pharmaceutical by 30.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after purchasing an additional 565 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Collegium Pharmaceutical by 744.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company's stock worth $73,000 after purchasing an additional 2,190 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Collegium Pharmaceutical by 368.9% in the second quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company's stock worth $82,000 after acquiring an additional 2,169 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COLL. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price objective for the company in a research report on Monday. Piper Sandler restated a "neutral" rating and set a $37.00 price target (up previously from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent, extended-release, and oral formulation of oxycodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment; Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, indicated for the management of acute, severe, and persistent pain; Belbuca, a buccal film that contains buprenorphine; and Symproic, an oral formulation of naldemedine for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.

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