Collegium Pharmaceutical (NASDAQ:COLL) Shares Gap Up - Time to Buy?

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $30.35, but opened at $31.82. Collegium Pharmaceutical shares last traded at $31.35, with a volume of 26,389 shares changing hands.

Analyst Upgrades and Downgrades

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

Collegium Pharmaceutical Trading Up 2.5%

The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 3.30. The firm's 50-day moving average price is $29.48 and its 200 day moving average price is $29.55. The company has a market capitalization of $1.04 billion, a P/E ratio of 26.52 and a beta of 0.64.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last posted its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.01). The business had revenue of $177.76 million for the quarter, compared to the consensus estimate of $174.96 million. Collegium Pharmaceutical had a return on equity of 99.08% and a net margin of 6.61%. The company's revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.45 earnings per share. As a group, equities research analysts predict that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current year.

Collegium Pharmaceutical announced that its board has approved a stock repurchase program on Monday, July 7th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the specialty pharmaceutical company to repurchase up to 15.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Collegium Pharmaceutical

In other news, Director John Gordon Freund sold 6,601 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $30.62, for a total transaction of $202,122.62. Following the completion of the sale, the director directly owned 70,658 shares of the company's stock, valued at $2,163,547.96. The trade was a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.51% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Collegium Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. New Age Alpha Advisors LLC bought a new stake in Collegium Pharmaceutical in the 4th quarter worth about $40,000. Wealthquest Corp purchased a new position in shares of Collegium Pharmaceutical in the 1st quarter worth approximately $62,000. Virtus Fund Advisers LLC boosted its stake in shares of Collegium Pharmaceutical by 30.5% in the 4th quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after buying an additional 565 shares during the last quarter. FORA Capital LLC bought a new position in shares of Collegium Pharmaceutical in the fourth quarter valued at approximately $223,000. Finally, Summit Global Investments purchased a new stake in shares of Collegium Pharmaceutical during the fourth quarter valued at approximately $232,000.

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.