Collegium Pharmaceutical (NASDAQ:COLL) EVP Thomas Smith Sells 17,478 Shares

Key Points

• Thomas Smith, EVP of Collegium Pharmaceutical, sold 17,478 shares at an average price of $38.42, totaling approximately $671,505, which reduced his position by nearly 20%.
• The company has authorized a $150 million share repurchase plan, indicating that management believes its stock may be undervalued.
• Analysts have varied opinions on the stock, with one upgrading it to a strong-buy rating and setting a price target of $44.00, while the consensus rating remains at buy with an average target of $42.33.

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report) EVP Thomas Smith sold 17,478 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $38.42, for a total transaction of $671,504.76. Following the completion of the sale, the executive vice president owned 70,264 shares of the company's stock, valued at approximately $2,699,542.88. This trade represents a 19.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Collegium Pharmaceutical Stock Performance

NASDAQ COLL traded up $0.43 during trading hours on Wednesday, reaching $39.59. 542,978 shares of the company were exchanged, compared to its average volume of 370,796. The business's 50 day simple moving average is $33.68 and its 200-day simple moving average is $30.44. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 3.27. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29. The stock has a market capitalization of $1.25 billion, a P/E ratio of 38.07 and a beta of 0.63.

Collegium Pharmaceutical declared that its board has authorized a share repurchase plan on Monday, July 7th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the specialty pharmaceutical company to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

COLL has been the subject of a number of recent analyst reports. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target for the company in a research report on Monday, August 11th. Wall Street Zen raised Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Piper Sandler restated a "neutral" rating and set a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $42.33.

Hedge Funds Weigh In On Collegium Pharmaceutical

A number of hedge funds have recently bought and sold shares of COLL. Rubric Capital Management LP increased its position in Collegium Pharmaceutical by 5.3% during the second quarter. Rubric Capital Management LP now owns 3,157,743 shares of the specialty pharmaceutical company's stock valued at $93,374,000 after acquiring an additional 157,743 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Collegium Pharmaceutical by 1.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,371,448 shares of the specialty pharmaceutical company's stock worth $40,938,000 after purchasing an additional 19,568 shares in the last quarter. Emerald Advisers LLC increased its stake in Collegium Pharmaceutical by 1.3% in the 2nd quarter. Emerald Advisers LLC now owns 837,549 shares of the specialty pharmaceutical company's stock worth $24,766,000 after buying an additional 11,074 shares in the last quarter. Geode Capital Management LLC grew its holdings in Collegium Pharmaceutical by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 780,243 shares of the specialty pharmaceutical company's stock valued at $23,075,000 after buying an additional 14,709 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Collegium Pharmaceutical by 18.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 713,854 shares of the specialty pharmaceutical company's stock valued at $21,309,000 after acquiring an additional 109,655 shares in the last quarter.

Collegium Pharmaceutical Company Profile

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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