Collegium Pharmaceutical (NASDAQ:COLL) Upgraded at HC Wainwright

Key Points

• HC Wainwright has reiterated a buy rating on Collegium Pharmaceutical (COLL) with a price target of $44.00, suggesting a potential upside of nearly 26% from its previous close.
• Collegium Pharmaceutical reported $1.49 earnings per share for the last quarter, slightly missing analyst expectations, but achieved a revenue of $177.76 million, surpassing estimates.
• The company announced a stock repurchase plan allowing the buyback of up to 15.4% of its shares valued at $150 million, signaling confidence in its stock valuation.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) was upgraded by stock analysts at HC Wainwright to a "strong-buy" rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $44.00 price target on the specialty pharmaceutical company's stock. HC Wainwright's price target points to a potential upside of 21.75% from the stock's current price.

A number of other research firms have also recently weighed in on COLL. Piper Sandler reaffirmed a "neutral" rating and issued a $37.00 price objective (up previously from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Collegium Pharmaceutical Price Performance

Shares of NASDAQ COLL opened at $36.14 on Monday. Collegium Pharmaceutical has a 1-year low of $23.23 and a 1-year high of $42.29. The firm has a market capitalization of $1.14 billion, a PE ratio of 34.75 and a beta of 0.68. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.18 and a quick ratio of 1.10. The business's fifty day moving average price is $30.90 and its two-hundred day moving average price is $29.65.

Collegium Pharmaceutical declared that its Board of Directors has initiated a share buyback plan on Monday, July 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director John Gordon Freund sold 6,601 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $30.62, for a total value of $202,122.62. Following the completion of the sale, the director directly owned 70,658 shares of the company's stock, valued at approximately $2,163,547.96. This represents a 8.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.51% of the company's stock.

Institutional Trading of Collegium Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Collegium Pharmaceutical by 1.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,221 shares of the specialty pharmaceutical company's stock worth $522,000 after acquiring an additional 339 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Collegium Pharmaceutical by 1.9% during the 1st quarter. SummerHaven Investment Management LLC now owns 24,354 shares of the specialty pharmaceutical company's stock valued at $727,000 after purchasing an additional 448 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Collegium Pharmaceutical by 4.5% in the 1st quarter. Farther Finance Advisors LLC now owns 11,091 shares of the specialty pharmaceutical company's stock worth $326,000 after purchasing an additional 477 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Collegium Pharmaceutical by 6.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,252 shares of the specialty pharmaceutical company's stock worth $244,000 after purchasing an additional 534 shares in the last quarter. Finally, Virtus Fund Advisers LLC lifted its stake in Collegium Pharmaceutical by 30.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock valued at $69,000 after purchasing an additional 565 shares during 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.