13,660 Shares in Collegium Pharmaceutical, Inc. $COLL Purchased by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC acquired 13,660 shares of Collegium Pharmaceutical, Inc., valued at approximately $408,000, marking a significant investment during the first quarter.
• Collegium Pharmaceutical received "strong-buy" ratings from analysts, with a price target of $44.00 and a consensus rating of "Buy" based on data from MarketBeat.com.
• The company has announced a $150 million stock buyback program, indicating confidence from the board in the company’s valuation.

Belpointe Asset Management LLC purchased a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,660 shares of the specialty pharmaceutical company's stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Collegium Pharmaceutical by 1.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,371,448 shares of the specialty pharmaceutical company's stock worth $40,938,000 after buying an additional 19,568 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of Collegium Pharmaceutical by 1.8% in the 1st quarter. Emerald Advisers LLC now owns 826,475 shares of the specialty pharmaceutical company's stock worth $24,670,000 after buying an additional 14,795 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Collegium Pharmaceutical by 18.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 713,854 shares of the specialty pharmaceutical company's stock worth $21,309,000 after buying an additional 109,655 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of 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 buying an additional 461,914 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Collegium Pharmaceutical by 0.8% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 574,080 shares of the specialty pharmaceutical company's stock worth $17,136,000 after buying an additional 4,513 shares during the last quarter.

Collegium Pharmaceutical Price Performance

NASDAQ COLL traded down $0.41 on Friday, reaching $35.75. 758,060 shares of the company's stock traded hands, compared to its average volume of 433,058. Collegium Pharmaceutical, Inc. has a 12 month low of $23.23 and a 12 month 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. The stock has a 50-day simple moving average of $35.35 and a 200 day simple moving average of $31.17. The stock has a market cap of $1.13 billion, a PE ratio of 34.38 and a beta of 0.63.

Collegium Pharmaceutical declared that its board has initiated a share repurchase program on Monday, July 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the specialty pharmaceutical company to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

COLL has been the topic of a number of research analyst reports. HC Wainwright raised shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target on the stock in a report on Monday, August 11th. Wall Street Zen raised shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. One investment analyst has 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, Collegium Pharmaceutical has a consensus rating of "Buy" and a consensus target price of $42.33.

Insider Buying and Selling

In other news, Director John Gordon Freund sold 11,659 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the sale, the director owned 23,129 shares of the company's stock, valued at approximately $794,712.44. This represents a 33.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas B. Smith sold 17,478 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $38.42, for a total value of $671,504.76. Following the sale, the executive vice president directly owned 70,264 shares of the company's stock, valued at approximately $2,699,542.88. This trade represents a 19.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,792 shares of company stock worth $2,084,207. 2.51% of the stock is owned by company insiders.

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.