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Collegium Pharmaceutical (NASDAQ:COLL) Board of Directors Authorizes Share Buyback Plan

Collegium Pharmaceutical logo with Medical background

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) declared that its board has authorized a stock repurchase program on Monday, July 7th, RTT News reports. The company plans to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Collegium Pharmaceutical Stock Up 1.8%

Shares of NASDAQ:COLL traded up $0.55 during trading on Monday, hitting $30.90. The stock had a trading volume of 431,680 shares, compared to its average volume of 399,434. Collegium Pharmaceutical has a 12 month low of $23.23 and a 12 month high of $42.29. The company has a market capitalization of $992.82 million, a PE ratio of 25.33 and a beta of 0.64. The firm's fifty day moving average is $29.30 and its 200 day moving average is $29.51. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 3.30.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced 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 99.08% and a net margin of 6.61%. The firm had revenue of $177.76 million during the quarter, compared to the consensus estimate of $174.96 million. During the same period in the prior year, the company posted $1.45 EPS. The firm's revenue was up 22.7% on a year-over-year basis. Analysts anticipate that Collegium Pharmaceutical will post 5.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COLL has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $46.00 price target on shares of Collegium Pharmaceutical in a report on Wednesday, April 9th. HC Wainwright reissued a "buy" rating and issued a $50.00 target price on shares of Collegium Pharmaceutical in a research note on Monday, March 24th. Wall Street Zen cut Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Finally, Piper Sandler reissued a "neutral" rating and issued a $37.00 target price (up previously from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.75.

Get Our Latest Stock Report on COLL

Insiders Place Their Bets

In other Collegium Pharmaceutical news, Director John Gordon Freund sold 6,601 shares of Collegium Pharmaceutical stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.62, for a total value of $202,122.62. Following the completion of the sale, the director owned 70,658 shares of the company's stock, valued at approximately $2,163,547.96. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.51% of the stock is currently owned by company insiders.

About Collegium Pharmaceutical

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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