Collegium Pharmaceutical, Inc. (NASDAQ:COLL) Stake Trimmed by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in Collegium Pharmaceutical by 10.9%, holding 302,602 shares worth approximately $9.03 million after selling 36,927 shares.
• Collegium Pharmaceutical's stock received various ratings from analysts, with Needham & Company LLC issuing a "buy" rating and a price target of $46.00.
• The company has initiated a stock repurchase program, allowing it to buy back up to $150 million in shares, indicating management believes the stock is undervalued.

Royce & Associates LP trimmed its holdings in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 302,602 shares of the specialty pharmaceutical company's stock after selling 36,927 shares during the period. Royce & Associates LP owned 0.94% of Collegium Pharmaceutical worth $9,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS increased its position in Collegium Pharmaceutical by 17.5% during the first 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 during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position 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 worth $3,721,000 after purchasing an additional 2,895 shares during the last quarter. South Dakota Investment Council increased its position 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 worth $1,024,000 after purchasing an additional 1,400 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Collegium Pharmaceutical by 18.1% during 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 purchasing an additional 109,655 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in Collegium Pharmaceutical by 1.8% during the first quarter. Emerald Advisers LLC now owns 826,475 shares of the specialty pharmaceutical company's stock worth $24,670,000 after purchasing an additional 14,795 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COLL. Wall Street Zen cut shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Piper Sandler restated a "neutral" rating and set a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $46.00 price objective on shares of Collegium Pharmaceutical in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.75.

Collegium Pharmaceutical Price Performance

Shares of Collegium Pharmaceutical stock traded down $0.03 on Tuesday, hitting $31.33. The company's stock had a trading volume of 56,218 shares, compared to its average volume of 357,417. Collegium Pharmaceutical, Inc. has a 52-week low of $23.23 and a 52-week high of $42.29. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 3.30. The firm has a fifty day moving average price of $30.39 and a 200-day moving average price of $29.74. The company has a market capitalization of $1.01 billion, a P/E ratio of 25.66 and a beta of 0.64.

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

Collegium Pharmaceutical declared that its Board of Directors has approved a share repurchase plan on Monday, July 7th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the specialty pharmaceutical company to purchase up to 15.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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 on Monday, June 9th. The stock was sold at an average price of $30.62, for a total transaction of $202,122.62. Following the transaction, the director directly owned 70,658 shares in the company, valued at $2,163,547.96. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.51% of the company's stock.

About Collegium Pharmaceutical

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.