Collegium Pharmaceutical (NASDAQ:COLL) to Repurchase $150.00 million in Shares

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) announced that its Board of Directors has approved a stock buyback plan on Monday, July 7th, RTT News reports. The company plans to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the specialty pharmaceutical company to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Collegium Pharmaceutical Stock Performance

Shares of Collegium Pharmaceutical stock traded up $0.64 during trading hours on Thursday, hitting $33.00. 324,239 shares of the company's stock traded hands, compared to its average volume of 399,998. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 27.05 and a beta of 0.64. Collegium Pharmaceutical has a 12-month low of $23.23 and a 12-month high of $42.29. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.08 and a quick ratio of 1.01. The company has a fifty day simple moving average of $29.60 and a 200-day simple moving average of $29.57.

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 for the quarter, missing analysts' consensus estimates of $1.50 by ($0.01). The company had revenue of $177.76 million during the quarter, compared to analysts' expectations of $174.96 million. Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The firm's revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Equities research analysts anticipate that Collegium Pharmaceutical will post 5.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on COLL shares. Piper Sandler reissued a "neutral" rating and issued a $37.00 price objective (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Collegium Pharmaceutical in a research report on Monday, March 24th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $46.00 price target on shares of Collegium Pharmaceutical in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.75.

Insider Activity

In other news, Director John Gordon Freund sold 6,601 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.62, for a total transaction of $202,122.62. Following the completion of the transaction, the director owned 70,658 shares in the company, valued at approximately $2,163,547.96. This represents a 8.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.51% of the stock is currently owned by 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.