Vestcor Inc Has $85,000 Stock Position 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 trimmed its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 82.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of COLL. Wealthquest Corp acquired a new position in shares of Collegium Pharmaceutical in the 1st quarter valued at $62,000. Virtus Fund Advisers LLC boosted its position in Collegium Pharmaceutical by 30.5% during the 4th quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after acquiring an additional 565 shares during the period. FORA Capital LLC acquired a new stake in Collegium Pharmaceutical during the 4th quarter worth about $223,000. XTX Topco Ltd acquired a new stake in Collegium Pharmaceutical during the 4th quarter worth about $236,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Collegium Pharmaceutical during the 1st quarter worth about $244,000.

Collegium Pharmaceutical Stock Performance

Collegium Pharmaceutical stock traded up $1.99 on Friday, hitting $34.93. The company's stock had a trading volume of 809,607 shares, compared to its average volume of 307,794. Collegium Pharmaceutical, Inc. has a one year low of $23.23 and a one year high of $42.29. The firm has a market cap of $1.12 billion, a P/E ratio of 33.59 and a beta of 0.68. The company has a quick ratio of 1.01, a current ratio of 1.33 and a debt-to-equity ratio of 3.54. The company has a fifty day moving average price of $30.76 and a 200-day moving average price of $29.66.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.50 by ($0.01). Collegium Pharmaceutical had a net margin of 5.13% and a return on equity of 97.28%. The company had revenue of $177.76 million for the quarter, compared to analyst estimates of $174.96 million. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm's revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current year.

Collegium Pharmaceutical announced that its board has approved a share buyback plan on Monday, July 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the specialty pharmaceutical company to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John Gordon Freund sold 6,601 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $30.62, for a total transaction of $202,122.62. Following the sale, the director directly owned 70,658 shares of the company's stock, valued at $2,163,547.96. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Piper Sandler reissued a "neutral" rating and issued a $37.00 price objective (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $43.75.

Collegium Pharmaceutical Company 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.