Stonepine Capital Management LLC Makes New Investment in Collegium Pharmaceutical, Inc. $COLL

Key Points

• Stonepine Capital Management LLC has acquired a new position in Collegium Pharmaceutical, Inc. ($COLL), purchasing 20,607 shares valued at approximately $615,000 during the first quarter.
• Several institutional investors, including Janus Henderson Group PLC, have significantly increased their holdings in Collegium Pharmaceutical, indicating growing confidence in the company's prospects.
• Collegium Pharmaceutical's board has authorized a $150 million share repurchase plan, suggesting that they believe the stock is undervalued.

Stonepine Capital Management LLC acquired a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,607 shares of the specialty pharmaceutical company's stock, valued at approximately $615,000. Stonepine Capital Management LLC owned approximately 0.06% of Collegium Pharmaceutical as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COLL. Janus Henderson Group PLC lifted its holdings in shares of 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 worth $8,341,000 after acquiring an additional 221,903 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Collegium Pharmaceutical in the 4th quarter worth about $3,489,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Collegium Pharmaceutical by 18.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 713,854 shares of the specialty pharmaceutical company's stock worth $21,309,000 after acquiring an additional 109,655 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Collegium Pharmaceutical in the 1st quarter worth about $3,085,000. Finally, Nuveen LLC bought a new stake in shares of Collegium Pharmaceutical in the 1st quarter worth about $2,674,000.

Insider Activity at Collegium Pharmaceutical

In related news, Director John Gordon Freund sold 11,659 shares of Collegium Pharmaceutical 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 sale, the director owned 23,129 shares in the company, valued at $794,712.44. This trade represents a 33.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Dreyer sold 16,389 shares of Collegium Pharmaceutical stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $38.21, for a total transaction of $626,223.69. Following the sale, the executive vice president owned 103,613 shares of the company's stock, valued at $3,959,052.73. The trade was a 13.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,915 shares of company stock worth $1,614,825 in the last 90 days. 2.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. HC Wainwright upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 target price for the company in a report on Monday, August 11th. Finally, Piper Sandler restated a "neutral" rating and issued a $37.00 target price (up previously from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $42.33.

Collegium Pharmaceutical Trading Down 1.0%

Shares of COLL opened at $39.11 on Friday. Collegium Pharmaceutical, Inc. has a 1-year low of $23.23 and a 1-year high of $42.29. The company has a 50-day moving average of $32.42 and a 200 day moving average of $30.05. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 37.61 and a beta of 0.68. The company has a debt-to-equity ratio of 3.27, a current ratio of 1.18 and a quick ratio of 1.10.

Collegium Pharmaceutical announced that its Board of Directors has authorized a share repurchase plan on Monday, July 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the specialty pharmaceutical company to reacquire up to 15.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

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.

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