NewEdge Wealth LLC Takes $1.77 Million Position in Collegium Pharmaceutical, Inc. $COLL

Key Points

• NewEdge Wealth LLC acquired 48,989 shares of Collegium Pharmaceutical in the second quarter, valued at approximately $1.77 million and representing a 0.15% stake.
• Several major institutional investors increased or initiated positions, including BlackRock’s new stake worth about $197 million and Rubric Capital’s 5.3% increase.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $51 average price target, despite several recent downgrades. Collegium also beat quarterly EPS estimates, reporting $1.92 versus the $1.72 consensus, while revenue rose 6.3% year over year.

NewEdge Wealth LLC acquired a new stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,989 shares of the specialty pharmaceutical company's stock, valued at approximately $1,773,000. NewEdge Wealth LLC owned 0.15% of Collegium Pharmaceutical at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Collegium Pharmaceutical during the 2nd quarter worth about $196,972,000. Rubric Capital Management LP grew its stake in shares of Collegium Pharmaceutical by 5.3% in the second quarter. Rubric Capital Management LP now owns 3,157,743 shares of the specialty pharmaceutical company's stock worth $93,374,000 after acquiring an additional 157,743 shares in the last quarter. Vanguard Group Inc. increased its holdings in Collegium Pharmaceutical by 1.3% during the 4th 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 during the period. Janus Henderson Group PLC increased its stake in shares of Collegium Pharmaceutical by 26.0% during the first quarter. Janus Henderson Group PLC now owns 1,825,651 shares of the specialty pharmaceutical company's stock worth $60,358,000 after buying an additional 377,073 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Collegium Pharmaceutical by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,617,349 shares of the specialty pharmaceutical company's stock valued at $74,883,000 after purchasing an additional 18,160 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COLL. Weiss Ratings lowered Collegium Pharmaceutical from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research cut Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Piper Sandler reiterated a "neutral" rating and issued a $43.00 price target (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. Finally, Barclays reduced their price objective on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Collegium Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Collegium Pharmaceutical Stock Performance

Collegium Pharmaceutical stock opened at $27.54 on Friday. Collegium Pharmaceutical, Inc. has a fifty-two week low of $25.47 and a fifty-two week high of $50.79. The company has a market capitalization of $896.59 million, a price-to-earnings ratio of 22.21 and a beta of 0.73. The stock has a fifty day moving average of $33.82 and a two-hundred day moving average of $35.84. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.84 and a current ratio of 1.03.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The business had revenue of $199.88 million for the quarter, compared to the consensus estimate of $199.62 million. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%.The business's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 earnings per share. On average, analysts anticipate that Collegium Pharmaceutical, Inc. will post 6.51 EPS for the current fiscal year.

Collegium Pharmaceutical Company Profile

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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