Hsbc Holdings PLC Acquires 6,808 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Hsbc Holdings PLC increased its stake in Collegium Pharmaceutical by 40.3%, owning approximately 0.07% of the company, valued at around $703,000.
• Several hedge funds, including MetLife Investment Management and AQR Capital Management, also raised their positions in Collegium, reflecting growing investor interest.
• Collegium Pharmaceutical's shares were up 1.2% to $38.80, with analysts setting a new average price target of $42.33 for the company's stock.

Hsbc Holdings PLC raised its stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 40.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,687 shares of the specialty pharmaceutical company's stock after purchasing an additional 6,808 shares during the period. Hsbc Holdings PLC owned 0.07% of Collegium Pharmaceutical worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. lifted its stake in Collegium Pharmaceutical by 1.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,371,448 shares of the specialty pharmaceutical company's stock worth $40,938,000 after purchasing an additional 19,568 shares during the last quarter. Emerald Advisers LLC grew its stake in Collegium Pharmaceutical by 1.8% during 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 lifted its stake in shares of Collegium Pharmaceutical by 18.1% during the first 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 period. Emerald Mutual Fund Advisers Trust raised its position in Collegium Pharmaceutical by 0.8% during 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. Finally, Northern Trust Corp boosted its stake in shares of Collegium Pharmaceutical by 5.6% in the fourth quarter. Northern Trust Corp now owns 385,157 shares of the specialty pharmaceutical company's stock worth $11,035,000 after buying an additional 20,490 shares during the last quarter.

Insider Buying and Selling at Collegium Pharmaceutical

In other Collegium Pharmaceutical news, Director John Gordon Freund sold 11,659 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $34.36, for a total value of $400,603.24. Following the sale, the director directly owned 23,129 shares in the company, valued at $794,712.44. This represents a 33.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Dreyer sold 16,389 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.21, for a total transaction of $626,223.69. Following the completion of the sale, the executive vice president directly owned 103,613 shares in the company, valued at $3,959,052.73. This represents a 13.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,393 shares of company stock valued at $2,286,330. 2.51% of the stock is owned by corporate insiders.

Collegium Pharmaceutical Stock Down 1.1%

NASDAQ COLL traded down $0.45 during trading hours on Thursday, hitting $39.14. The company's stock had a trading volume of 123,847 shares, compared to its average volume of 369,297. Collegium Pharmaceutical, Inc. has a 52 week low of $23.23 and a 52 week high of $42.29. The company has a market capitalization of $1.23 billion, a PE ratio of 37.63 and a beta of 0.63. The company's 50-day simple moving average is $33.87 and its two-hundred day simple moving average is $30.50. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 3.27.

Collegium Pharmaceutical declared that its Board of Directors has initiated a share buyback plan on Monday, July 7th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the specialty pharmaceutical company to purchase up to 15.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

COLL has been the topic of several recent analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $37.00 target price (up previously from $36.00) on shares of Collegium Pharmaceutical in a research 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, August 9th. Finally, HC Wainwright raised Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target for the company in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $42.33.

About Collegium Pharmaceutical

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.