Collegium Pharmaceutical, Inc. $COLL Shares Sold by Versor Investments LP

Key Points

• Versor Investments LP has reduced its stake in Collegium Pharmaceutical by 55.2%, owning 8,769 shares after selling 10,813 shares during the first quarter.
• Collegium Pharmaceutical has initiated a $150 million share buyback program, allowing the company to repurchase up to 15.4% of its outstanding shares, suggesting management believes the stock is undervalued.
• Collegium Pharmaceutical's stock recently saw a rating upgrade from Piper Sandler to neutral, and from Wall Street Zen to strong-buy with price targets ranging from $37.00 to $44.00.

Versor Investments LP reduced its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 55.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,769 shares of the specialty pharmaceutical company's stock after selling 10,813 shares during the period. Versor Investments LP's holdings in Collegium Pharmaceutical were worth $262,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthquest Corp acquired a new stake in shares of Collegium Pharmaceutical in the first quarter valued at $62,000. Virtus Fund Advisers LLC raised 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 buying an additional 565 shares in the last quarter. FORA Capital LLC acquired a new stake in Collegium Pharmaceutical in the fourth quarter valued at $223,000. XTX Topco Ltd acquired a new stake in Collegium Pharmaceutical in the fourth quarter valued at $236,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Collegium Pharmaceutical in the first quarter valued at $244,000.

Collegium Pharmaceutical Stock Up 3.0%

COLL opened at $39.52 on Friday. The business's 50-day simple moving average is $32.22 and its 200-day simple moving average is $30.00. 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 one year low of $23.23 and a one year high of $42.29. The stock has a market capitalization of $1.24 billion, a P/E ratio of 38.00 and a beta of 0.68.

Collegium Pharmaceutical declared that its board has initiated a share buyback program 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 buy up to 15.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Collegium Pharmaceutical

In other news, Director John Gordon Freund sold 11,659 shares of Collegium Pharmaceutical stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $34.36, for a total transaction of $400,603.24. Following the sale, the director owned 23,129 shares in the company, valued at approximately $794,712.44. The trade was a 33.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gino Santini sold 5,405 shares of Collegium Pharmaceutical stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $37.19, for a total value of $201,011.95. Following the sale, the director owned 95,042 shares in the company, valued at $3,534,611.98. This trade represents a 5.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,915 shares of company stock worth $1,614,825. Corporate insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COLL shares. Piper Sandler restated a "neutral" rating and issued a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. Wall Street Zen upgraded Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, HC Wainwright upgraded Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target on the stock in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Collegium Pharmaceutical presently has an average rating of "Buy" and a consensus price target of $42.33.

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.

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