Charles Schwab Investment Management Inc. Cuts Stock Position in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Collegium Pharmaceutical, Inc. by 3.3%, owning about 1.11% of the company with shares valued at $10.60 million after selling 12,147 shares in the first quarter.
• Collegium Pharmaceutical has initiated a share buyback plan of $150 million, allowing for the repurchase of up to 15.4% of its stock, indicating the board's belief that the shares are undervalued.
• Analysts have issued varied ratings on Collegium Pharmaceutical, with a consensus rating of "Buy" and a target price of $42.33 following recent upgrades from firms like Piper Sandler and HC Wainwright.

Charles Schwab Investment Management Inc. cut its stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 355,259 shares of the specialty pharmaceutical company's stock after selling 12,147 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.11% of Collegium Pharmaceutical worth $10,604,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealthquest Corp purchased a new position in Collegium Pharmaceutical during the first quarter valued at approximately $62,000. Virtus Fund Advisers LLC boosted its stake in Collegium Pharmaceutical by 30.5% in the fourth quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock valued at $69,000 after acquiring an additional 565 shares in the last quarter. FORA Capital LLC acquired a new stake in Collegium Pharmaceutical in the fourth quarter valued at approximately $223,000. XTX Topco Ltd acquired a new stake in Collegium Pharmaceutical in the fourth quarter valued at approximately $236,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Collegium Pharmaceutical in the first quarter valued at approximately $244,000.

Collegium Pharmaceutical Price Performance

Shares of COLL stock traded down $0.44 on Thursday, reaching $38.35. 316,361 shares of the company were exchanged, compared to its average volume of 367,703. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 36.88 and a beta of 0.68. The business has a 50-day moving average price of $32.96 and a 200 day moving average price of $30.22. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.10 and a current ratio of 1.18. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29.

Collegium Pharmaceutical announced that its Board of Directors has initiated a stock repurchase plan on Monday, July 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

COLL has been the subject of several recent analyst reports. Piper Sandler restated a "neutral" rating and issued a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price objective for the company in a research note on Monday, August 11th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $42.33.

Insider Buying and Selling

In related news, Director Gino Santini sold 5,405 shares of Collegium Pharmaceutical stock in a transaction on Friday, August 15th. The shares were sold at an average price of $37.19, for a total transaction of $201,011.95. Following the sale, the director directly owned 95,042 shares in the company, valued at $3,534,611.98. This trade represents a 5.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Gordon Freund sold 11,659 shares of Collegium Pharmaceutical stock in a transaction on Friday, August 8th. The shares were sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the transaction, the director owned 23,129 shares in the company, valued at approximately $794,712.44. This represents a 33.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,915 shares of company stock valued at $1,614,825. Company insiders own 2.51% of the company's stock.

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.