LPL Financial LLC Decreases Stock Holdings in Collegium Pharmaceutical, Inc. $COLL

Key Points

• LPL Financial LLC reduced its stake in Collegium Pharmaceutical by 26.6%, now holding approximately $1.34 million worth of shares.
• Collegium Pharmaceutical's board has approved a $150 million share buyback plan, indicating confidence in the company's stock valuation.
• Brokerages have adjusted their ratings, with Piper Sandler maintaining a "neutral" rating and others like HC Wainwright upgrading to a "strong-buy" with a target price of $44.00.

LPL Financial LLC reduced its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 26.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,897 shares of the specialty pharmaceutical company's stock after selling 16,307 shares during the quarter. LPL Financial LLC owned 0.14% of Collegium Pharmaceutical worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. KLP Kapitalforvaltning AS increased its stake in shares of Collegium Pharmaceutical by 17.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 30,200 shares of the specialty pharmaceutical company's stock worth $901,000 after purchasing an additional 4,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Collegium Pharmaceutical by 2.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 124,671 shares of the specialty pharmaceutical company's stock valued at $3,721,000 after purchasing an additional 2,895 shares during the period. South Dakota Investment Council grew its holdings in Collegium Pharmaceutical by 4.3% during the first quarter. South Dakota Investment Council now owns 34,316 shares of the specialty pharmaceutical company's stock valued at $1,024,000 after purchasing an additional 1,400 shares during the period. Massachusetts Financial Services Co. MA increased its position in Collegium Pharmaceutical by 18.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 713,854 shares of the specialty pharmaceutical company's stock worth $21,309,000 after buying an additional 109,655 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of Collegium Pharmaceutical by 1.8% in the first quarter. Emerald Advisers LLC now owns 826,475 shares of the specialty pharmaceutical company's stock worth $24,670,000 after buying an additional 14,795 shares during the period.

Collegium Pharmaceutical Price Performance

COLL traded down $0.34 during trading on Monday, reaching $38.77. 423,317 shares of the company traded hands, compared to its average volume of 425,737. The company has a market cap of $1.22 billion, a P/E ratio of 6.73 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. Collegium Pharmaceutical, Inc. has a 12-month low of $23.23 and a 12-month high of $42.29. The firm has a fifty day simple moving average of $32.60 and a 200 day simple moving average of $30.10.

Collegium Pharmaceutical declared that its board has authorized a stock repurchase plan on Monday, July 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the specialty pharmaceutical company to buy up to 15.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Collegium Pharmaceutical

In other news, Director John Gordon Freund sold 11,659 shares of the firm's stock in a transaction dated 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 owned 23,129 shares in the company, valued at $794,712.44. This trade represents a 33.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gino Santini sold 5,405 shares of Collegium Pharmaceutical stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $37.19, for a total value of $201,011.95. Following the completion of the sale, the director directly owned 95,042 shares in the company, valued at $3,534,611.98. This trade represents a 5.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,915 shares of company stock worth $1,614,825. Insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

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

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.