Vestcor Inc Decreases Stock Holdings in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Key Points

• Vestcor Inc significantly reduced its stake in Collegium Pharmaceutical by 82.8%, bringing its holdings down to just 2,859 shares worth approximately $85,000.
• Collegium Pharmaceutical's board has authorized a $150 million share buyback program, indicating confidence in the company's stock value.
• Collegium reported a net margin of 6.61% for the last quarter, with revenues of $177.76 million, showing a 22.7% increase year-over-year.

Vestcor Inc cut its position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 82.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,859 shares of the specialty pharmaceutical company's stock after selling 13,719 shares during the period. Vestcor Inc's holdings in Collegium Pharmaceutical were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Collegium Pharmaceutical by 19.5% during the 4th quarter. Invesco Ltd. now owns 1,775,760 shares of the specialty pharmaceutical company's stock worth $50,876,000 after purchasing an additional 289,335 shares during the last quarter. Janus Henderson Group PLC grew its holdings in 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 valued at $8,341,000 after buying an additional 221,903 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Collegium Pharmaceutical in the 4th quarter worth $3,489,000. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 acquiring an additional 109,655 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Collegium Pharmaceutical during the 4th quarter valued at about $2,432,000.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. Wall Street Zen cut Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.75.

Insider Transactions at Collegium Pharmaceutical

In other news, Director John Gordon Freund sold 6,601 shares of the company'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 sale, the director owned 70,658 shares of the company's stock, valued at approximately $2,163,547.96. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.51% of the stock is currently owned by company insiders.

Collegium Pharmaceutical Trading Up 6.0%

Shares of COLL stock traded up $1.99 on Friday, hitting $34.93. The stock had a trading volume of 809,540 shares, compared to its average volume of 363,819. The company's 50 day moving average price is $30.65 and its 200-day moving average price is $29.65. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.08 and a quick ratio of 1.01. The firm has a market capitalization of $1.12 billion, a P/E ratio of 28.63 and a beta of 0.68.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.01). The business had revenue of $177.76 million during the quarter, compared to analysts' expectations of $174.96 million. Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 EPS. Analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current year.

Collegium Pharmaceutical announced that its Board of Directors has authorized a stock buyback program on Monday, July 7th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the specialty pharmaceutical company to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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.