272,995 Shares in Collegium Pharmaceutical, Inc. $COLL Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 272,995 shares of Collegium Pharmaceutical during the second quarter, valued at approximately $9.9 million and representing a 0.84% stake.
• Collegium reported quarterly EPS of $1.92, beating estimates of $1.72, while revenue rose 6.3% year over year to $199.88 million.
• The stock opened at $22.53, near its 12-month low of $21.65. Analysts maintain a “Moderate Buy” consensus with an average price target of $48.71, despite several recent target-price reductions.

Bank of America Corp DE bought a new stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 272,995 shares of the specialty pharmaceutical company's stock, valued at approximately $9,882,000. Bank of America Corp DE owned 0.84% of Collegium Pharmaceutical as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in shares of Collegium Pharmaceutical by 205.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 635 shares of the specialty pharmaceutical company's stock valued at $29,000 after acquiring an additional 427 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Collegium Pharmaceutical by 42.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,408 shares of the specialty pharmaceutical company's stock worth $47,000 after buying an additional 418 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Collegium Pharmaceutical by 51.8% in the fourth quarter. Hantz Financial Services Inc. now owns 2,602 shares of the specialty pharmaceutical company's stock valued at $120,000 after buying an additional 888 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Collegium Pharmaceutical by 9.3% during the first quarter. Assetmark Inc. now owns 3,923 shares of the specialty pharmaceutical company's stock valued at $130,000 after buying an additional 335 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Collegium Pharmaceutical by 20.6% during the first quarter. EverSource Wealth Advisors LLC now owns 5,035 shares of the specialty pharmaceutical company's stock valued at $167,000 after buying an additional 861 shares during the last quarter.

Collegium Pharmaceutical Price Performance

Shares of NASDAQ COLL opened at $22.53 on Friday. The company has a market capitalization of $733.49 million, a PE ratio of 18.17, a PEG ratio of 0.73 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32. The stock's 50 day moving average price is $27.85 and its 200-day moving average price is $32.17. Collegium Pharmaceutical, Inc. has a twelve month low of $21.65 and a twelve month high of $50.79.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.20. The company had revenue of $199.88 million during the quarter, compared to the consensus estimate of $199.62 million. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%.Collegium Pharmaceutical's revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $1.68 earnings per share. On average, equities analysts anticipate that Collegium Pharmaceutical, Inc. will post 6.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COLL shares. Piper Sandler restated a "neutral" rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. Barclays cut their price target on Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday, August 19th. Zacks Research downgraded Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Truist Financial began coverage on Collegium Pharmaceutical in a research note on Wednesday, September 9th. They issued a "buy" rating and a $49.00 price objective for the company. Finally, Leerink Partners initiated coverage on Collegium Pharmaceutical in a report on Wednesday, September 9th. They issued an "outperform" rating and a $45.00 target price on the stock. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.71.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for patients with central nervous system disorders. The company's portfolio includes treatments for pain and attention deficit hyperactivity disorder (ADHD), with an emphasis on products that address unmet patient and healthcare-provider needs.

Collegium's pain portfolio includes Xtampza ER, an extended-release oxycodone product designed with abuse-deterrent properties; Nucynta and Nucynta ER, which contain tapentadol and are used to treat certain types of acute and chronic pain; and Belbuca, a buprenorphine buccal film for the management of chronic pain.

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