Principal Financial Group Inc. Reduces Stock Position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Principal Financial Group Inc. decreased its position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,573,356 shares of the specialty pharmaceutical company's stock after selling 71,695 shares during the quarter. Principal Financial Group Inc. owned 4.90% of Collegium Pharmaceutical worth $46,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. lifted its stake in Collegium Pharmaceutical by 19.5% during the fourth quarter. Invesco Ltd. now owns 1,775,760 shares of the specialty pharmaceutical company's stock worth $50,876,000 after purchasing an additional 289,335 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Collegium Pharmaceutical by 0.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,661,549 shares of the specialty pharmaceutical company's stock worth $47,603,000 after acquiring an additional 5,480 shares during the period. Northern Trust Corp boosted its position in shares of Collegium Pharmaceutical by 5.6% during the 4th quarter. Northern Trust Corp now owns 385,157 shares of the specialty pharmaceutical company's stock worth $11,035,000 after purchasing an additional 20,490 shares in the last quarter. Royce & Associates LP boosted its position in shares of Collegium Pharmaceutical by 11.0% during the 4th quarter. Royce & Associates LP now owns 339,529 shares of the specialty pharmaceutical company's stock worth $9,728,000 after purchasing an additional 33,674 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Collegium Pharmaceutical by 319.4% in the 4th quarter. Janus Henderson Group PLC now owns 291,388 shares of the specialty pharmaceutical company's stock valued at $8,341,000 after acquiring an additional 221,903 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COLL. Piper Sandler restated a "neutral" rating and set a $37.00 price target (up previously from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Collegium Pharmaceutical in a research report on Monday, March 24th. Needham & Company LLC reiterated a "buy" rating and set a $46.00 target price on shares of Collegium Pharmaceutical in a report on Wednesday, April 9th. Finally, Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.75.

Insider Buying and Selling at Collegium Pharmaceutical

In related news, Director John Gordon Freund sold 6,601 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 70,658 shares of the company's stock, valued at approximately $2,163,547.96. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.51% of the stock is currently owned by company insiders.

Collegium Pharmaceutical Stock Performance

NASDAQ:COLL traded up $0.52 during mid-day trading on Tuesday, hitting $31.42. The company's stock had a trading volume of 35,262 shares, compared to its average volume of 398,024. The business's fifty day moving average is $29.30 and its two-hundred day moving average is $29.51. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.08 and a quick ratio of 1.01. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 25.87 and a beta of 0.64.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last posted its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share for the quarter, missing the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. Analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

Collegium Pharmaceutical announced that its board has authorized a stock buyback 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 repurchase up to 15.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is 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.