Russell Investments Group Ltd. Lowers Stock Position in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Collegium Pharmaceutical by 81%, selling 11,057 shares and leaving them with 2,592 shares valued at around $77,000.
• Collegium Pharmaceutical announced a $150 million share buyback program, allowing the company to repurchase up to 15.4% of its outstanding shares, indicating confidence in its valuation.
• Analyst ratings for Collegium Pharmaceutical have improved, with HC Wainwright setting a "strong-buy" rating and a target price of $44.00, with a consensus rating of "Buy" across multiple analysts.

Russell Investments Group Ltd. lowered its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 81.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the specialty pharmaceutical company's stock after selling 11,057 shares during the quarter. Russell Investments Group Ltd.'s holdings in Collegium Pharmaceutical were worth $77,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Knott David M Jr increased its holdings in shares of Collegium Pharmaceutical by 16.8% during the 1st quarter. Knott David M Jr now owns 38,473 shares of the specialty pharmaceutical company's stock valued at $1,148,000 after purchasing an additional 5,546 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Collegium Pharmaceutical by 26.7% in the first quarter. Public Sector Pension Investment Board now owns 102,246 shares of the specialty pharmaceutical company's stock valued at $3,052,000 after buying an additional 21,562 shares in the last quarter. Nuveen LLC acquired a new stake in Collegium Pharmaceutical in the 1st quarter worth about $2,674,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Collegium Pharmaceutical during the 1st quarter worth approximately $3,085,000. Finally, Wealthquest Corp bought a new stake in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $62,000.

Insider Activity

In other news, Director John Gordon Freund sold 11,659 shares of the company's stock in a transaction dated 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 transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas B. Smith sold 17,478 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $38.42, for a total transaction of $671,504.76. Following the completion of the sale, the executive vice president directly owned 70,264 shares of the company's stock, valued at $2,699,542.88. This trade represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,792 shares of company stock valued at $2,084,207. 2.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COLL shares. HC Wainwright upgraded Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target for the company in a research note on Monday, August 11th. Wall Street Zen raised Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $42.33.

Collegium Pharmaceutical Stock Down 1.9%

NASDAQ COLL traded down $0.74 on Monday, hitting $37.59. 294,958 shares of the stock were exchanged, compared to its average volume of 370,538. The company has a 50-day moving average price of $34.23 and a 200-day moving average price of $30.64. 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 market cap of $1.18 billion, a PE ratio of 36.11 and a beta of 0.63. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 3.27.

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