Comerica Bank Sells 13,571 Shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Comerica Bank cut its stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 54.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,278 shares of the specialty pharmaceutical company's stock after selling 13,571 shares during the period. Comerica Bank's holdings in Collegium Pharmaceutical were worth $323,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COLL. MetLife Investment Management LLC lifted its stake in shares of Collegium Pharmaceutical by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 19,987 shares of the specialty pharmaceutical company's stock worth $573,000 after purchasing an additional 1,558 shares during the period. Barclays PLC lifted its stake in shares of Collegium Pharmaceutical by 152.2% in the 3rd quarter. Barclays PLC now owns 75,052 shares of the specialty pharmaceutical company's stock worth $2,899,000 after purchasing an additional 45,291 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Collegium Pharmaceutical by 5.3% in the 4th quarter. Sanctuary Advisors LLC now owns 18,928 shares of the specialty pharmaceutical company's stock worth $542,000 after purchasing an additional 952 shares during the period. Franklin Resources Inc. lifted its stake in shares of Collegium Pharmaceutical by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 30,625 shares of the specialty pharmaceutical company's stock worth $1,164,000 after purchasing an additional 3,620 shares during the period. Finally, Amundi lifted its position in Collegium Pharmaceutical by 188.3% during the fourth quarter. Amundi now owns 15,568 shares of the specialty pharmaceutical company's stock valued at $446,000 after purchasing an additional 10,168 shares in the last quarter.

Collegium Pharmaceutical Price Performance

Shares of NASDAQ:COLL traded down $0.40 during trading on Monday, hitting $29.83. 219,338 shares of the company's stock were exchanged, compared to its average volume of 428,849. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.97 and a quick ratio of 0.88. Collegium Pharmaceutical, Inc. has a 52-week low of $23.23 and a 52-week high of $42.29. The business's 50-day simple moving average is $28.13 and its 200 day simple moving average is $29.80. The company has a market cap of $958.50 million, a price-to-earnings ratio of 12.86 and a beta of 0.63.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last released its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.01). Collegium Pharmaceutical had a return on equity of 104.67% and a net margin of 14.78%. The business had revenue of $177.76 million for the quarter, compared to analysts' expectations of $174.96 million. During the same quarter in the prior year, the business posted $1.45 EPS. The business's revenue for the quarter was up 22.7% compared to the same quarter last year. As a group, equities analysts predict that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on COLL shares. HC Wainwright reiterated a "buy" rating and set a $50.00 target price on shares of Collegium Pharmaceutical in a research report on Monday, March 24th. Piper Sandler reiterated a "neutral" rating and set a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. StockNews.com downgraded Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 19th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $46.00 price target on shares of Collegium Pharmaceutical in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.80.

Insider Buying and Selling

In other Collegium Pharmaceutical news, CFO Colleen Tupper sold 1,949 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $30.00, for a total transaction of $58,470.00. Following the completion of the transaction, the chief financial officer now owns 177,195 shares in the company, valued at $5,315,850. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Dreyer sold 2,255 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $30.00, for a total value of $67,650.00. Following the transaction, the executive vice president now owns 124,421 shares of the company's stock, valued at $3,732,630. This represents a 1.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,693 shares of company stock worth $2,334,994. 2.51% of the stock is owned by corporate insiders.

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.