Victory Capital Management Inc. Sells 60,823 Shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Victory Capital Management Inc. decreased its position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 498,713 shares of the specialty pharmaceutical company's stock after selling 60,823 shares during the quarter. Victory Capital Management Inc. owned approximately 1.55% of Collegium Pharmaceutical worth $14,887,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in Collegium Pharmaceutical in the fourth quarter worth $40,000. Wealthquest Corp bought a new position in Collegium Pharmaceutical in the first quarter worth $62,000. Virtus Fund Advisers LLC raised its holdings in Collegium Pharmaceutical by 30.5% in the fourth quarter. Virtus Fund Advisers LLC now owns 2,419 shares of the specialty pharmaceutical company's stock worth $69,000 after purchasing an additional 565 shares in the last quarter. FORA Capital LLC bought a new position in Collegium Pharmaceutical in the fourth quarter worth $223,000. Finally, Summit Global Investments bought a new position in Collegium Pharmaceutical in the fourth quarter worth $232,000.

Collegium Pharmaceutical Stock Performance

Shares of Collegium Pharmaceutical stock traded down $0.33 during trading on Friday, hitting $31.78. 209,084 shares of the company's stock traded hands, compared to its average volume of 266,707. The company has a debt-to-equity ratio of 3.30, a current ratio of 1.08 and a quick ratio of 1.01. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $42.29. The stock has a market capitalization of $1.02 billion, a P/E ratio of 26.05 and a beta of 0.64. The business has a 50-day simple moving average of $30.36 and a 200-day simple moving average of $29.77.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last released 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). Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The business had revenue of $177.76 million for the quarter, compared to analysts' expectations of $174.96 million. During the same period last year, the business earned $1.45 earnings per share. The company's quarterly revenue was up 22.7% on a year-over-year basis. As a group, analysts forecast that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current year.

Collegium Pharmaceutical declared that its board has approved a stock repurchase program on Monday, July 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the specialty pharmaceutical company to buy up to 15.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Collegium Pharmaceutical

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

Analyst Ratings Changes

A number of research firms have issued reports on COLL. Needham & Company LLC reiterated a "buy" rating and issued a $46.00 price objective on shares of Collegium Pharmaceutical in a report on Wednesday, April 9th. Piper Sandler reissued a "neutral" rating and issued a $37.00 target price (up from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. Finally, Wall Street Zen cut Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.75.

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.