Collegium Pharmaceutical (NASDAQ:COLL) Upgraded at Zacks Research

Key Points

• Collegium Pharmaceutical has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating, reflecting increased confidence in the company's stock.
• The company announced a $150 million share buyback program, indicating that its board believes the stock is undervalued, and it has also seen significant insider sales over recent months.
• Several analysts have issued positive ratings for the stock, with Collegium Pharmaceutical having a consensus rating of "Buy" and an average target price of $42.33.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 target price on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Two equities research analysts have 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. Based on data from MarketBeat.com, Collegium Pharmaceutical currently has a consensus rating of "Buy" and an average target price of $42.33.

Collegium Pharmaceutical Stock Down 1.5%

Shares of NASDAQ COLL opened at $34.65 on Wednesday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 33.32 and a beta of 0.63. The company has a 50-day moving average price of $35.58 and a 200-day moving average price of $31.33. Collegium Pharmaceutical has a 1 year low of $23.23 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.18 and a quick ratio of 1.10.

Collegium Pharmaceutical declared that its Board of Directors has approved a share buyback program on Monday, July 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Collegium Pharmaceutical

In other news, Director Gino Santini sold 5,405 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $37.19, for a total value of $201,011.95. Following the transaction, the director owned 95,042 shares of the company's stock, valued at $3,534,611.98. This represents a 5.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Gordon Freund sold 11,659 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $34.36, for a total transaction of $400,603.24. Following the sale, the director owned 23,129 shares of the company's stock, valued at approximately $794,712.44. The trade was a 33.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,792 shares of company stock worth $2,084,207 over the last quarter. 2.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Collegium Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in COLL. Millennium Management LLC boosted its position in Collegium Pharmaceutical by 248.5% during the first quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company's stock valued at $19,338,000 after buying an additional 461,914 shares during the period. Rubric Capital Management LP boosted its holdings in shares of 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 worth $93,374,000 after purchasing an additional 157,743 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Collegium Pharmaceutical by 79.9% during the second quarter. Loomis Sayles & Co. L P now owns 337,137 shares of the specialty pharmaceutical company's stock worth $9,969,000 after purchasing an additional 149,766 shares during the period. Marshall Wace LLP purchased a new stake in shares of Collegium Pharmaceutical during the second quarter worth about $4,043,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Collegium Pharmaceutical during the fourth quarter worth about $3,489,000.

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.

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