Goldman Sachs Group Inc. Sells 44,391 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Collegium Pharmaceutical by 20.2%, selling 44,391 shares and now holds 175,320 shares valued at approximately $5.23 million.
• Collegium's stock received upgrades to a "strong-buy" rating from brokerages like HC Wainwright and Wall Street Zen, with a consensus price target increase to $42.33.
• The company announced a $150 million share repurchase plan, indicating management's belief that the stock is undervalued, as they aim to buy back up to 15.4% of its shares.

Goldman Sachs Group Inc. decreased its holdings in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,320 shares of the specialty pharmaceutical company's stock after selling 44,391 shares during the quarter. Goldman Sachs Group Inc. owned 0.55% of Collegium Pharmaceutical worth $5,233,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of Collegium Pharmaceutical by 3.1% in the first quarter. Rhumbline Advisers now owns 111,628 shares of the specialty pharmaceutical company's stock worth $3,332,000 after purchasing an additional 3,400 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Collegium Pharmaceutical during the first quarter valued at about $408,000. Fortis Capital Advisors LLC bought a new position in Collegium Pharmaceutical during the first quarter valued at about $408,000. Intech Investment Management LLC boosted its stake in Collegium Pharmaceutical by 10.1% during the first quarter. Intech Investment Management LLC now owns 73,908 shares of the specialty pharmaceutical company's stock valued at $2,206,000 after buying an additional 6,776 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Collegium Pharmaceutical by 218.7% during the first quarter. Jane Street Group LLC now owns 131,520 shares of the specialty pharmaceutical company's stock valued at $3,926,000 after buying an additional 90,255 shares in the last quarter.

Analyst Ratings Changes

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

Collegium Pharmaceutical Stock Down 1.1%

NASDAQ COLL traded down $0.41 during trading on Friday, reaching $35.75. 758,060 shares of the company's stock were exchanged, compared to its average volume of 433,058. Collegium Pharmaceutical, Inc. has a fifty-two week low of $23.23 and a fifty-two week high of $42.29. The company's fifty day simple moving average is $35.35 and its 200-day simple moving average is $31.17. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $1.13 billion, a PE ratio of 34.38 and a beta of 0.63.

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

Insider Buying and Selling

In related news, Director John Gordon Freund sold 11,659 shares of the firm'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 transaction, the director directly owned 23,129 shares of the company's stock, valued at approximately $794,712.44. This trade represents a 33.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Dreyer sold 16,389 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 103,613 shares in the company, valued at $3,959,052.73. The trade was a 13.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,792 shares of company stock valued at $2,084,207 over the last 90 days. 2.51% of the stock is currently owned by insiders.

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.