Corient Private Wealth LP Takes $2.60 Million Position in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Corient Private Wealth LP purchased 71,898 Collegium Pharmaceutical shares worth approximately $2.60 million, representing about 0.22% of the company.
• Other institutional investors also increased exposure, including BlackRock’s $197 million new position and Jupiter Topco’s $77.7 million stake; Millennium Management expanded its holdings by 248.5%.
• Analysts maintain a “Moderate Buy” consensus with a $51 average price target, while Collegium reported quarterly earnings of $1.92 per share, beating estimates, and revenue rose 6.3% year over year.

Corient Private Wealth LP purchased a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 71,898 shares of the specialty pharmaceutical company's stock, valued at approximately $2,604,000. Corient Private Wealth LP owned approximately 0.22% of Collegium Pharmaceutical as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in COLL. BlackRock Inc. purchased a new position in Collegium Pharmaceutical during the second quarter valued at $196,972,000. Jupiter Topco LLC bought a new stake in Collegium Pharmaceutical in the second quarter worth $77,743,000. Janus Henderson Group PLC grew its stake in shares of Collegium Pharmaceutical by 59.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,448,578 shares of the specialty pharmaceutical company's stock worth $67,026,000 after acquiring an additional 538,337 shares during the last quarter. Millennium Management LLC grew its stake in shares of Collegium Pharmaceutical by 248.5% in the first quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company's stock worth $19,338,000 after acquiring an additional 461,914 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Collegium Pharmaceutical during the second quarter valued at $9,882,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COLL. Truist Financial raised shares of Collegium Pharmaceutical to a "strong-buy" rating in a report on Monday, June 15th. Needham & Company LLC reduced their price target on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Zacks Research cut Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $43.00 price target (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $51.00.

Collegium Pharmaceutical Stock Performance

Shares of COLL stock opened at $24.30 on Thursday. The company has a 50 day moving average price of $32.34 and a 200-day moving average price of $34.53. Collegium Pharmaceutical, Inc. has a 52 week low of $23.84 and a 52 week high of $50.79. The firm has a market capitalization of $791.21 million, a PE ratio of 19.60 and a beta of 0.72. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.20. The company had revenue of $199.88 million for the quarter, compared to the consensus estimate of $199.62 million. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 earnings per share. As a group, equities research analysts expect that Collegium Pharmaceutical, Inc. will post 6.51 earnings per share for the current year.

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company's core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company's principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.

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