Tejara Capital Ltd Purchases 83,011 Shares of Collegium Pharmaceutical, Inc. $COLL

Key Points

• Tejara Capital Ltd increased its stake in Collegium Pharmaceutical by 288.4%, owning 111,792 shares after acquiring an additional 83,011 shares in the first quarter.
• Collegium Pharmaceutical's Board of Directors initiated a $150 million stock buyback program, allowing for the repurchase of up to 15.4% of its shares.
• After recent trades, Director John Gordon Freund decreased his position by 33.51%, selling 11,659 shares for $400,603, leaving him with a remaining value of approximately $794,712.

Tejara Capital Ltd increased its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 288.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 111,792 shares of the specialty pharmaceutical company's stock after purchasing an additional 83,011 shares during the quarter. Collegium Pharmaceutical makes up approximately 1.3% of Tejara Capital Ltd's investment portfolio, making the stock its 20th largest position. Tejara Capital Ltd owned about 0.35% of Collegium Pharmaceutical worth $3,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Collegium Pharmaceutical by 319.4% during 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Collegium Pharmaceutical during the 4th quarter worth approximately $3,489,000. Massachusetts Financial Services Co. MA grew its stake in Collegium Pharmaceutical by 18.1% during 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 buying an additional 109,655 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Collegium Pharmaceutical during the 1st quarter worth approximately $3,085,000. Finally, Nuveen LLC acquired a new stake in Collegium Pharmaceutical during the 1st quarter worth approximately $2,674,000.

Insiders Place Their Bets

In other news, EVP Scott Dreyer sold 4,861 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $38.03, for a total transaction of $184,863.83. Following the completion of the sale, the executive vice president owned 103,613 shares in the company, valued at approximately $3,940,402.39. This represents a 4.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Gordon Freund sold 11,659 shares of the business'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 sale, the director directly owned 23,129 shares in the company, valued at approximately $794,712.44. This trade represents a 33.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,121 shares of company stock valued at $787,590 in the last quarter. Insiders own 2.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COLL. HC Wainwright raised Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price objective 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 report on Saturday, August 9th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $37.00 price objective (up previously from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $42.33.

Collegium Pharmaceutical Stock Performance

Shares of NASDAQ COLL traded down $0.56 during midday trading on Tuesday, hitting $37.63. 440,801 shares of the company's stock were exchanged, compared to its average volume of 366,189. The firm has a market cap of $1.19 billion, a P/E ratio of 36.18 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, Inc. has a twelve month low of $23.23 and a twelve month high of $42.29. The stock's 50 day moving average price is $31.70 and its 200-day moving average price is $29.83.

Collegium Pharmaceutical announced that its board 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 repurchase 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 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.