Fortis Capital Advisors LLC Acquires Shares of 13,660 Collegium Pharmaceutical, Inc. $COLL

Key Points

• Fortis Capital Advisors LLC acquired a new position in Collegium Pharmaceutical, purchasing 13,660 shares valued at approximately $408,000 in the first quarter of the year.
• Insider transactions include sales by EVP Thomas B. Smith and Director John Gordon Freund, with Smith selling 17,478 shares worth $671,504.76 and Freund selling 11,659 shares for $400,603.24.
• HC Wainwright upgraded Collegium Pharmaceutical to a "strong-buy" rating, projecting a target price of $44.00 for the stock, reflecting positive sentiment among analysts.

Fortis Capital Advisors LLC purchased a new position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 13,660 shares of the specialty pharmaceutical company's stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COLL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Collegium Pharmaceutical by 1.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,221 shares of the specialty pharmaceutical company's stock valued at $522,000 after acquiring an additional 339 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Collegium Pharmaceutical by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 24,354 shares of the specialty pharmaceutical company's stock valued at $727,000 after buying an additional 448 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Collegium Pharmaceutical by 4.5% during the 1st quarter. Farther Finance Advisors LLC now owns 11,091 shares of the specialty pharmaceutical company's stock worth $326,000 after purchasing an additional 477 shares in the last quarter. Virtus Fund Advisers LLC grew its holdings 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 purchasing an additional 565 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Collegium Pharmaceutical by 4.2% during the 1st quarter. SG Americas Securities LLC now owns 14,277 shares of the specialty pharmaceutical company's stock worth $426,000 after purchasing an additional 578 shares in the last quarter.

Collegium Pharmaceutical Trading Up 1.2%

NASDAQ:COLL traded up $0.41 on Tuesday, reaching $35.33. The company's stock had a trading volume of 163,657 shares, compared to its average volume of 375,717. Collegium Pharmaceutical, Inc. has a 1-year low of $23.23 and a 1-year high of $42.29. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.10 and a current ratio of 1.18. The firm has a market cap of $1.11 billion, a PE ratio of 33.60 and a beta of 0.63. The business's 50-day moving average price is $35.08 and its two-hundred day moving average price is $31.00.

Collegium Pharmaceutical announced that its board has initiated a stock repurchase plan on Monday, July 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the specialty pharmaceutical company to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on COLL shares. HC Wainwright raised Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target on the stock in a research note on Monday, August 11th. Wall Street Zen upgraded Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $42.33.

Insider Transactions at Collegium Pharmaceutical

In related news, Director John Gordon Freund sold 11,659 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the transaction, the director directly owned 23,129 shares of the company's stock, valued at approximately $794,712.44. This represents a 33.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Dreyer sold 16,389 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $38.21, for a total value of $626,223.69. Following the transaction, the executive vice president directly owned 103,613 shares of the company's stock, valued at $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 sold 55,792 shares of company stock valued at $2,084,207 over the last three months. 2.51% of the stock is currently owned by corporate insiders.

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.