Bank of New York Mellon Corp Invests $8.51 Million in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Bank of New York Mellon acquired 234,960 shares of Collegium Pharmaceutical worth approximately $8.51 million, representing about 0.72% of the company.
• Institutional interest increased, with Millennium Management and Jane Street significantly expanding their positions during the first quarter, while several other funds made smaller additions.
• Analyst sentiment remains mixed but leans positive: Collegium has a “Moderate Buy” consensus rating and a $51 average price target, despite recent downgrades. The company also exceeded quarterly earnings expectations, reporting $1.92 EPS and $199.88 million in revenue.

Bank of New York Mellon Corp acquired a new stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 234,960 shares of the specialty pharmaceutical company's stock, valued at approximately $8,506,000. Bank of New York Mellon Corp owned about 0.72% of Collegium Pharmaceutical at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Collegium Pharmaceutical by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,046 shares of the specialty pharmaceutical company's stock valued at $569,000 after purchasing an additional 825 shares during the last quarter. Millennium Management LLC boosted its stake in Collegium Pharmaceutical by 248.5% in the 1st quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company's stock worth $19,338,000 after purchasing an additional 461,914 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Collegium Pharmaceutical by 7.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,014 shares of the specialty pharmaceutical company's stock worth $2,120,000 after purchasing an additional 4,625 shares during the last quarter. Jane Street Group LLC grew its position in Collegium Pharmaceutical by 218.7% during the 1st quarter. Jane Street Group LLC now owns 131,520 shares of the specialty pharmaceutical company's stock worth $3,926,000 after purchasing an additional 90,255 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Collegium Pharmaceutical by 3.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 72,068 shares of the specialty pharmaceutical company's stock valued at $2,131,000 after purchasing an additional 2,592 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on COLL. Barclays lowered their price objective on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday, August 19th. Weiss Ratings downgraded Collegium Pharmaceutical from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Truist Financial raised Collegium Pharmaceutical to a "strong-buy" rating in a research report on Monday, June 15th. Finally, Zacks Research downgraded Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.00.

Collegium Pharmaceutical Stock Up 1.3%

Collegium Pharmaceutical stock opened at $24.30 on Thursday. The firm has a market cap of $791.21 million, a price-to-earnings ratio of 19.60 and a beta of 0.72. Collegium Pharmaceutical, Inc. has a 52 week low of $23.84 and a 52 week high of $50.79. The business's 50-day moving average price is $32.34 and its 200 day moving average price is $34.53. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.20. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%.The company had revenue of $199.88 million during the quarter, compared to analysts' expectations of $199.62 million. During the same period last year, the business earned $1.68 earnings per share. Collegium Pharmaceutical's quarterly revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Collegium Pharmaceutical, Inc. will post 6.51 earnings per share for the current year.

Collegium Pharmaceutical Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company's core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company's principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.

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