Collegium Pharmaceutical, Inc. (NASDAQ:COLL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 4.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 242,261 shares of the specialty pharmaceutical company's stock after selling 10,426 shares during the period. Bank of New York Mellon Corp owned about 0.75% of Collegium Pharmaceutical worth $7,231,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in COLL. Raymond James Financial Inc. purchased a new stake in shares of Collegium Pharmaceutical in the 4th quarter valued at approximately $2,432,000. Teacher Retirement System of Texas increased its stake in Collegium Pharmaceutical by 16.6% during the 4th quarter. Teacher Retirement System of Texas now owns 9,568 shares of the specialty pharmaceutical company's stock worth $274,000 after buying an additional 1,363 shares during the period. Summit Global Investments purchased a new stake in Collegium Pharmaceutical during the 4th quarter worth approximately $232,000. KLP Kapitalforvaltning AS purchased a new stake in Collegium Pharmaceutical during the 4th quarter worth approximately $736,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Collegium Pharmaceutical during the 4th quarter worth approximately $40,000.

Insider Activity

In other news, Director John Gordon Freund sold 6,601 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.62, for a total value of $202,122.62. Following the completion of the transaction, the director owned 70,658 shares in the company, valued at approximately $2,163,547.96. This represents a 8.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.51% of the company's stock.

Collegium Pharmaceutical Stock Down 1.0%

NASDAQ COLL traded down $0.33 on Friday, hitting $31.78. 209,084 shares of the stock were exchanged, compared to its average volume of 266,707. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 3.30. Collegium Pharmaceutical, Inc. has a fifty-two week low of $23.23 and a fifty-two week high of $42.29. The company has a market cap of $1.02 billion, a PE ratio of 26.05 and a beta of 0.64. The company has a 50-day moving average price of $30.36 and a 200-day moving average price of $29.77.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last issued its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.01). Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The company had revenue of $177.76 million during the quarter, compared to analyst estimates of $174.96 million. During the same quarter in the previous year, the company posted $1.45 EPS. The company's quarterly revenue was up 22.7% on a year-over-year basis. Sell-side analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

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

Analyst Ratings Changes

COLL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $46.00 target price on shares of Collegium Pharmaceutical in a research note on Wednesday, April 9th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Piper Sandler reiterated a "neutral" rating and set a $37.00 price target (up previously from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.75.

Collegium Pharmaceutical 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.