Collegium Pharmaceutical, Inc. (NASDAQ:COLL) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Collegium Pharmaceutical by selling 1,723,415 shares, resulting in an ownership of only 419,076 shares, accounting for 1.30% of the company.
• Collegium Pharmaceutical has announced a stock buyback program worth $150 million, allowing the company to repurchase up to 15.4% of its outstanding shares, indicating management's belief that the stock is undervalued.
• Collegium Pharmaceutical's latest earnings report revealed that it missed analysts' EPS estimates by $0.01 despite a revenue increase of 22.7% year-over-year, demonstrating its ongoing growth in the specialty pharmaceutical sector.

Pacer Advisors Inc. cut its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 80.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,076 shares of the specialty pharmaceutical company's stock after selling 1,723,415 shares during the period. Pacer Advisors Inc. owned approximately 1.30% of Collegium Pharmaceutical worth $12,509,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new position in shares of Collegium Pharmaceutical during the 4th quarter worth approximately $40,000. Wealthquest Corp purchased a new position in shares of Collegium Pharmaceutical during the 1st quarter worth approximately $62,000. Virtus Fund Advisers LLC increased its stake in shares of Collegium Pharmaceutical by 30.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after purchasing an additional 565 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Collegium Pharmaceutical during the 4th quarter worth approximately $223,000. Finally, XTX Topco Ltd purchased a new position in shares of Collegium Pharmaceutical during the 4th quarter worth approximately $236,000.

Insider Buying and Selling at Collegium Pharmaceutical

In other Collegium Pharmaceutical news, Director John Gordon Freund sold 6,601 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $30.62, for a total value of $202,122.62. Following the transaction, the director owned 70,658 shares in the company, valued at $2,163,547.96. The trade was a 8.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.51% of the stock is currently owned by company insiders.

Collegium Pharmaceutical Trading Down 0.0%

Shares of COLL traded down $0.01 during mid-day trading on Wednesday, reaching $31.20. The company had a trading volume of 14,856 shares, compared to its average volume of 356,848. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 25.57 and a beta of 0.64. The firm has a fifty day simple moving average of $30.41 and a 200-day simple moving average of $29.75. Collegium Pharmaceutical, Inc. has a fifty-two week low of $23.23 and a fifty-two week high of $42.29. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 3.30.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.01). The company had revenue of $177.76 million during the quarter, compared to analyst estimates of $174.96 million. Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The firm's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.45 EPS. On average, sell-side analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

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

Analyst Ratings Changes

COLL has been the subject of a number of recent research reports. Wall Street Zen cut shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $46.00 target price on shares of Collegium Pharmaceutical in a research note on Wednesday, April 9th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.75.

Collegium Pharmaceutical Company 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.