Invesco Ltd. Trims Holdings in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Invesco Ltd. has reduced its stake in Collegium Pharmaceutical by 8.1%, now owning approximately 5.08% of the company, valued at $48.7 million following the sale of 143,421 shares.
• Collegium Pharmaceutical has initiated a $150 million stock buyback plan, which allows for the repurchase of up to 15.4% of its shares, indicating confidence from company leadership in the stock's valuation.
• Analysts have upgraded their ratings for Collegium Pharmaceutical, with Wall Street Zen raising its rating to "strong-buy" and setting new price targets of $37.00 and $44.00 by different firms, reflecting positive outlooks for the stock's performance.

Invesco Ltd. lowered its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 8.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,632,339 shares of the specialty pharmaceutical company's stock after selling 143,421 shares during the quarter. Invesco Ltd. owned about 5.08% of Collegium Pharmaceutical worth $48,725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Collegium Pharmaceutical in the 4th quarter worth about $2,432,000. Barclays PLC raised its position in shares of Collegium Pharmaceutical by 6.3% in the 4th quarter. Barclays PLC now owns 79,754 shares of the specialty pharmaceutical company's stock worth $2,286,000 after purchasing an additional 4,702 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Collegium Pharmaceutical in the 4th quarter worth about $236,000. MetLife Investment Management LLC raised its position in Collegium Pharmaceutical by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 19,987 shares of the specialty pharmaceutical company's stock worth $573,000 after buying an additional 1,558 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Collegium Pharmaceutical by 148.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,711 shares of the specialty pharmaceutical company's stock worth $336,000 after buying an additional 7,000 shares during the last quarter.

Insider Activity

In other news, Director Gino Santini sold 5,405 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $37.19, for a total transaction of $201,011.95. Following the completion of the sale, the director owned 95,042 shares of the company's stock, valued at $3,534,611.98. This represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Dreyer sold 16,389 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.21, for a total transaction of $626,223.69. Following the sale, the executive vice president directly owned 103,613 shares of the company's stock, valued at $3,959,052.73. The trade was a 13.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,915 shares of company stock valued at $1,614,825 in the last quarter. 2.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target for the company in a research note on Monday, August 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $42.33.

Collegium Pharmaceutical Stock Performance

Shares of NASDAQ COLL traded down $0.4450 during midday trading on Friday, hitting $39.0750. 62,978 shares of the company's stock traded hands, compared to its average volume of 365,411. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 37.50 and a beta of 0.68. 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 fifty day moving average of $32.22 and a 200 day moving average of $30.00.

Collegium Pharmaceutical announced that its board has approved a stock buyback plan on Monday, July 7th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares buyback plans are generally 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.