Deutsche Bank AG Sells 19,873 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Deutsche Bank AG reduced its holdings in Collegium Pharmaceutical by 23.6% in the first quarter, selling 19,873 shares to bring its ownership to 64,290 shares worth approximately $1.92 million.
• Collegium Pharmaceutical has announced a $150 million share repurchase plan, allowing the company to buy back up to 15.4% of its outstanding shares, indicating confidence in its stock value.
• Analyst ratings for Collegium Pharmaceutical have improved, with HC Wainwright upgrading the stock to a "strong-buy" and setting a target price of $44.00.

Deutsche Bank AG decreased its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,290 shares of the specialty pharmaceutical company's stock after selling 19,873 shares during the period. Deutsche Bank AG owned 0.20% of Collegium Pharmaceutical worth $1,919,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of COLL. Wealthquest Corp acquired a new position in Collegium Pharmaceutical in the 1st quarter valued at $62,000. Virtus Fund Advisers LLC lifted its position in shares of Collegium Pharmaceutical by 30.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after buying an additional 565 shares in the last quarter. FORA Capital LLC bought a new stake in shares of Collegium Pharmaceutical in the 4th quarter worth approximately $223,000. XTX Topco Ltd purchased a new position in shares of Collegium Pharmaceutical during the 4th quarter valued at $236,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Collegium Pharmaceutical during the 1st quarter valued at $244,000.

Collegium Pharmaceutical Stock Down 1.0%

Shares of NASDAQ COLL traded down $0.39 during trading hours on Tuesday, hitting $38.39. The company had a trading volume of 160,935 shares, compared to its average volume of 366,896. The stock has a market capitalization of $1.21 billion, a P/E ratio of 36.92 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 3.27. Collegium Pharmaceutical, Inc. has a 1-year low of $23.23 and a 1-year high of $42.29. The firm's 50 day moving average is $32.60 and its 200-day moving average is $30.10.

Collegium Pharmaceutical announced that its Board of Directors has approved a share buyback plan on Monday, July 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Transactions at Collegium Pharmaceutical

In related news, Director Gino Santini sold 5,405 shares of the stock in a transaction on 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 approximately $3,534,611.98. This represents a 5.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Dreyer sold 16,389 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $38.21, for a total value of $626,223.69. Following the sale, the executive vice president directly owned 103,613 shares in the company, valued at approximately $3,959,052.73. This trade represents a 13.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,915 shares of company stock worth $1,614,825 in the last ninety days. Insiders own 2.51% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. HC Wainwright raised shares of 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 reissued a "neutral" rating and issued a $37.00 price objective (up from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Collegium Pharmaceutical has a consensus rating of "Buy" and a consensus price target 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.