Connor Clark & Lunn Investment Management Ltd. Takes Position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 103,359 shares of the specialty pharmaceutical company's stock, valued at approximately $3,085,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Collegium Pharmaceutical at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its position in Collegium Pharmaceutical by 19.5% during the 4th quarter. Invesco Ltd. now owns 1,775,760 shares of the specialty pharmaceutical company's stock worth $50,876,000 after acquiring an additional 289,335 shares during the period. Emerald Advisers LLC lifted its holdings in shares of Collegium Pharmaceutical by 1.8% during the first quarter. Emerald Advisers LLC now owns 826,475 shares of the specialty pharmaceutical company's stock valued at $24,670,000 after purchasing an additional 14,795 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $21,309,000 after buying an additional 109,655 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in 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 purchasing an additional 4,513 shares during the last quarter. Finally, Northern Trust Corp increased its position in Collegium Pharmaceutical by 5.6% in the 4th quarter. Northern Trust Corp now owns 385,157 shares of the specialty pharmaceutical company's stock worth $11,035,000 after purchasing an additional 20,490 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. HC Wainwright raised Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 target price for the company in a report on Monday, August 11th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th.

Insider Buying and Selling

In related news, Director John Gordon Freund sold 11,659 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $34.36, for a total value of $400,603.24. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Dreyer sold 4,861 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $38.03, for a total value of $184,863.83. Following the sale, the executive vice president owned 103,613 shares of the company's stock, valued at $3,940,402.39. The trade was a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,121 shares of company stock worth $787,590. Company insiders own 2.51% of the company's stock.

Collegium Pharmaceutical Stock Up 1.6%

Shares of Collegium Pharmaceutical stock traded up $0.58 during trading on Friday, reaching $37.74. The stock had a trading volume of 352,185 shares, compared to its average volume of 380,680. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 3.27. The stock has a fifty day moving average price of $31.54 and a two-hundred day moving average price of $29.80. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 36.29 and a beta of 0.68. Collegium Pharmaceutical, Inc. has a 52 week low of $23.23 and a 52 week high of $42.29.

Collegium Pharmaceutical announced that its board has authorized a share buyback 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 repurchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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.