Legal & General Group Plc Buys Shares of 75,576 Collegium Pharmaceutical, Inc. $COLL

Key Points

• Legal & General Group Plc acquired 75,576 shares of Collegium Pharmaceutical worth approximately $2.7 million, representing about 0.23% of the company. Several other institutional investors also initiated or increased positions.
• Collegium reported quarterly earnings of $1.92 per share, exceeding the $1.72 consensus estimate, while revenue rose 6.3% year over year to $199.88 million. Despite the results, shares opened at $23.53, near their 12-month low.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and a $51 average price target, although several firms recently reduced their targets and one analyst downgraded the stock to “Hold.”

Legal & General Group Plc acquired a new stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 75,576 shares of the specialty pharmaceutical company's stock, valued at approximately $2,736,000. Legal & General Group Plc owned about 0.23% of Collegium Pharmaceutical as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Collegium Pharmaceutical by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,256,254 shares of the specialty pharmaceutical company's stock worth $104,465,000 after purchasing an additional 29,876 shares in the last quarter. Globeflex Capital L P acquired a new stake in Collegium Pharmaceutical during the second quarter valued at approximately $1,915,000. Louisiana State Employees Retirement System bought a new stake in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $463,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $686,000. Finally, Intech Investment Management LLC raised its holdings in shares of Collegium Pharmaceutical by 25.5% in the 4th quarter. Intech Investment Management LLC now owns 108,855 shares of the specialty pharmaceutical company's stock worth $5,040,000 after buying an additional 22,146 shares in the last quarter.

Collegium Pharmaceutical Stock Down 0.7%

Shares of NASDAQ:COLL opened at $23.53 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32. The firm has a market cap of $766.14 million, a P/E ratio of 18.98 and a beta of 0.72. Collegium Pharmaceutical, Inc. has a 12 month low of $23.37 and a 12 month high of $50.79. The company's 50-day moving average price is $31.86 and its two-hundred day moving average price is $34.30.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced its earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.20. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. The company had revenue of $199.88 million during the quarter, compared to the consensus estimate of $199.62 million. During the same period in the previous year, the firm posted $1.68 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, research analysts forecast that Collegium Pharmaceutical, Inc. will post 6.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on COLL shares. Truist Financial upgraded Collegium Pharmaceutical to a "strong-buy" rating in a research note on Monday, June 15th. Barclays cut their price target on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a report on Wednesday, August 19th. Piper Sandler reaffirmed a "neutral" rating and set a $43.00 price objective (down from $45.00) on shares of Collegium Pharmaceutical in a research note on Friday, August 7th. Needham & Company LLC cut their target price on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Collegium Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $51.00.

About Collegium Pharmaceutical

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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