Fifth Third Bancorp Acquires 28,913 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Fifth Third Bancorp dramatically increased its Collegium Pharmaceutical stake by purchasing 28,913 additional shares in the first quarter, bringing its holdings to 29,092 shares valued at approximately $962,000. Several other institutional investors also initiated or expanded positions.
• Collegium reported quarterly EPS of $1.76, beating estimates of $1.52, while revenue reached $193.52 million and rose 8.9% year over year.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a consensus price target of $57.50, compared with a recent share price of $35.20.

Fifth Third Bancorp lifted its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 16,152.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,092 shares of the specialty pharmaceutical company's stock after purchasing an additional 28,913 shares during the quarter. Fifth Third Bancorp owned about 0.09% of Collegium Pharmaceutical worth $962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new stake in Collegium Pharmaceutical in the first quarter worth $686,000. James Investment Research Inc. raised its position in shares of Collegium Pharmaceutical by 19.7% in the 1st quarter. James Investment Research Inc. now owns 7,110 shares of the specialty pharmaceutical company's stock worth $235,000 after purchasing an additional 1,170 shares during the last quarter. Peregrine Capital Management LLC bought a new position in Collegium Pharmaceutical in the 1st quarter worth about $3,185,000. Louisiana State Employees Retirement System bought a new position in Collegium Pharmaceutical in the 1st quarter worth about $463,000. Finally, Ritholtz Wealth Management grew its position in Collegium Pharmaceutical by 35.1% during the 1st quarter. Ritholtz Wealth Management now owns 8,283 shares of the specialty pharmaceutical company's stock valued at $274,000 after purchasing an additional 2,150 shares during the last quarter.

Collegium Pharmaceutical Stock Performance

Shares of COLL stock opened at $35.20 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.62 and a debt-to-equity ratio of 2.47. Collegium Pharmaceutical, Inc. has a 12-month low of $29.19 and a 12-month high of $50.79. The stock has a market capitalization of $1.14 billion, a P/E ratio of 17.25 and a beta of 0.73. The firm's 50 day moving average is $34.65 and its 200 day moving average is $37.88.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced its earnings results on Thursday, May 7th. The specialty pharmaceutical company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.24. The business had revenue of $193.52 million during the quarter, compared to analyst estimates of $184.47 million. Collegium Pharmaceutical had a net margin of 9.41% and a return on equity of 95.18%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS. Research analysts expect that Collegium Pharmaceutical, Inc. will post 6.76 earnings per share for the current year.

Analysts Set New Price Targets

COLL has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Collegium Pharmaceutical in a research note on Monday, July 6th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Truist Financial upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating in a report on Monday, June 15th. Finally, Zacks Research raised shares of Collegium Pharmaceutical from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Collegium Pharmaceutical currently has an average rating of "Buy" and a consensus price target of $57.50.

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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