Rubric Capital Management LP Sells 216,825 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Rubric Capital Management cut its Collegium Pharmaceutical stake by 14.5%, selling 216,825 shares and retaining 1,279,611 shares, or 3.95% of the company valued at approximately $42.3 million.
• Other institutional investors, including Empowered Funds, Quantinno Capital Management, and Arrowstreet Capital, increased their positions in Collegium during the first quarter.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $57.50 target price. Collegium also exceeded quarterly earnings and revenue estimates, reporting $1.76 EPS and $193.52 million in revenue.

Rubric Capital Management LP reduced its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 14.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,279,611 shares of the specialty pharmaceutical company's stock after selling 216,825 shares during the quarter. Rubric Capital Management LP owned 3.95% of Collegium Pharmaceutical worth $42,317,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in Collegium Pharmaceutical by 75.8% during the first quarter. Empowered Funds LLC now owns 57,384 shares of the specialty pharmaceutical company's stock worth $1,898,000 after buying an additional 24,734 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Collegium Pharmaceutical by 41.2% in the first quarter. The Manufacturers Life Insurance Company now owns 13,194 shares of the specialty pharmaceutical company's stock valued at $436,000 after acquiring an additional 3,850 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Collegium Pharmaceutical by 195.6% during the 1st quarter. Quantinno Capital Management LP now owns 56,242 shares of the specialty pharmaceutical company's stock valued at $1,860,000 after acquiring an additional 37,213 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Collegium Pharmaceutical by 49.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 61,742 shares of the specialty pharmaceutical company's stock valued at $2,042,000 after acquiring an additional 20,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Collegium Pharmaceutical by 29.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 703,528 shares of the specialty pharmaceutical company's stock valued at $23,266,000 after acquiring an additional 159,755 shares during the period.

Analyst Ratings Changes

A number of research firms recently commented on COLL. Wall Street Zen cut shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Saturday. Zacks Research raised Collegium Pharmaceutical from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. Truist Financial raised Collegium Pharmaceutical to a "strong-buy" rating in a research report on Monday, June 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Collegium Pharmaceutical in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $57.50.

Collegium Pharmaceutical Price Performance

COLL opened at $35.52 on Tuesday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 17.41 and a beta of 0.73. The company has a quick ratio of 1.62, a current ratio of 1.71 and a debt-to-equity ratio of 2.47. The firm has a 50-day moving average price of $34.69 and a 200-day moving average price of $37.81. Collegium Pharmaceutical, Inc. has a twelve month low of $29.19 and a twelve month high of $50.79.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The specialty pharmaceutical company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.24. The company had revenue of $193.52 million for the quarter, compared to analyst estimates of $184.47 million. Collegium Pharmaceutical had a net margin of 9.41% and a return on equity of 95.18%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Equities analysts expect that Collegium Pharmaceutical, Inc. will post 6.76 EPS for the current 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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