Public Sector Pension Investment Board Buys 21,562 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

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Public Sector Pension Investment Board increased its stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 26.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,246 shares of the specialty pharmaceutical company's stock after purchasing an additional 21,562 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.32% of Collegium Pharmaceutical worth $3,052,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wealthquest Corp acquired a new position in Collegium Pharmaceutical during the 1st quarter worth approximately $62,000. Virtus Fund Advisers LLC increased its position in Collegium Pharmaceutical by 30.5% in the 4th quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock valued at $69,000 after acquiring an additional 565 shares during the period. FORA Capital LLC acquired a new position in Collegium Pharmaceutical in the 4th quarter valued at approximately $223,000. XTX Topco Ltd acquired a new position in Collegium Pharmaceutical in the 4th quarter valued at approximately $236,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Collegium Pharmaceutical in the 1st quarter valued at approximately $244,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COLL. Piper Sandler restated a "neutral" rating and issued a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target for the company in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $42.33.

Insider Activity

In other news, Director Gino Santini sold 5,405 shares of the company's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $37.19, for a total value of $201,011.95. Following the sale, the director directly owned 95,042 shares of the company's stock, valued at approximately $3,534,611.98. This represents a 5.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Gordon Freund sold 11,659 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the sale, the director directly owned 23,129 shares in the company, valued at approximately $794,712.44. This represents a 33.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,915 shares of company stock valued at $1,614,825. 2.51% of the stock is currently owned by insiders.

Collegium Pharmaceutical Trading Down 1.0%

Shares of NASDAQ:COLL traded down $0.41 during trading on Friday, reaching $39.11. The stock had a trading volume of 447,830 shares, compared to its average volume of 413,800. The firm's fifty day moving average is $32.42 and its 200 day moving average is $30.05. 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 52 week low of $23.23 and a 52 week high of $42.29. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 37.61 and a beta of 0.68.

Collegium Pharmaceutical declared that its Board of Directors has initiated a stock buyback program on Monday, July 7th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the specialty pharmaceutical company to purchase up to 15.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.