Fortis Capital Advisors LLC Takes $408,000 Position in 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 bought a new stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 13,660 shares of the specialty pharmaceutical company's stock, valued at approximately $408,000.

Other large investors also recently made changes to their positions in the company. Wealthquest Corp acquired a new stake in shares of Collegium Pharmaceutical in the 1st quarter valued at about $62,000. Virtus Fund Advisers LLC increased its position in shares of Collegium Pharmaceutical by 30.5% during the fourth quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after acquiring an additional 565 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Collegium Pharmaceutical in the 1st quarter worth about $244,000. State of Wyoming raised its holdings in shares of Collegium Pharmaceutical by 75.0% in the 4th quarter. State of Wyoming now owns 9,818 shares of the specialty pharmaceutical company's stock worth $281,000 after acquiring an additional 4,208 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Collegium Pharmaceutical by 28.8% in the 4th quarter. ProShare Advisors LLC now owns 11,196 shares of the specialty pharmaceutical company's stock worth $321,000 after acquiring an additional 2,506 shares during the last quarter.

Insiders Place Their Bets

In other news, EVP Thomas B. Smith sold 17,478 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $38.42, for a total value of $671,504.76. Following the transaction, the executive vice president owned 70,264 shares in the company, valued at $2,699,542.88. The trade was a 19.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director owned 23,129 shares in the company, valued at $794,712.44. The trade was a 33.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,792 shares of company stock worth $2,084,207 over the last 90 days. 2.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 target price on the stock in a report on Monday, August 11th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $42.33.

Collegium Pharmaceutical Price Performance

Shares of NASDAQ COLL opened at $37.71 on Thursday. Collegium Pharmaceutical, Inc. has a twelve month low of $23.23 and a twelve month high of $42.29. The stock's 50 day moving average price is $34.69 and its 200-day moving average price is $30.80. The company has a market capitalization of $1.19 billion, a PE ratio of 36.26 and a beta of 0.63. 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 declared that its board has authorized a share buyback plan on Monday, July 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the specialty pharmaceutical company to repurchase up to 15.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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.

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