Insider Selling: Collegium Pharmaceutical, Inc. (NASDAQ:COLL) Director Sells 11,659 Shares of Stock

Key Points

• Collegium Pharmaceutical Director John Gordon Freund sold 11,659 shares at an average price of $34.36, totaling over $400,000, indicating a significant 33.51% decrease in his ownership stake.
• The company's board has authorized a $150 million share buyback plan, allowing it to repurchase up to 15.4% of its outstanding shares.
• Collegium Pharmaceutical's stock has a recent trading price of $37.87, with a market capitalization of $1.19 billion and a current P/E ratio of 6.22.

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report) Director John Gordon Freund sold 11,659 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the transaction, the director owned 23,129 shares of the company's stock, valued at $794,712.44. This trade represents a 33.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

John Gordon Freund also recently made the following trade(s):

• On Monday, June 9th, John Gordon Freund sold 6,601 shares of Collegium Pharmaceutical stock. The stock was sold at an average price of $30.62, for a total transaction of $202,122.62.

Collegium Pharmaceutical Price Performance

Shares of COLL stock traded up $1.73 during mid-day trading on Tuesday, hitting $37.87. The company had a trading volume of 537,270 shares, compared to its average volume of 354,592. The stock's 50 day moving average price is $31.07 and its 200-day moving average price is $29.71. Collegium Pharmaceutical, Inc. has a 52-week low of $23.23 and a 52-week high of $42.29. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.22 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 declared that its board has authorized a share buyback plan 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 buy up to 15.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COLL shares. Piper Sandler restated a "neutral" rating and issued a $37.00 price objective (up from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. Wall Street Zen upgraded shares of Collegium Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, HC Wainwright raised shares of Collegium Pharmaceutical to a "strong-buy" rating and set a $44.00 price target on the stock in a report on Monday.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Collegium Pharmaceutical by 19.5% during the fourth quarter. Invesco Ltd. now owns 1,775,760 shares of the specialty pharmaceutical company's stock valued at $50,876,000 after purchasing an additional 289,335 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Collegium Pharmaceutical during the fourth quarter valued at $2,432,000. Barclays PLC boosted its stake in shares of Collegium Pharmaceutical by 6.3% during the fourth quarter. Barclays PLC now owns 79,754 shares of the specialty pharmaceutical company's stock valued at $2,286,000 after purchasing an additional 4,702 shares during the period. XTX Topco Ltd purchased a new stake in shares of Collegium Pharmaceutical during the fourth quarter valued at $236,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Collegium Pharmaceutical by 8.5% during the fourth quarter. MetLife Investment Management LLC now owns 19,987 shares of the specialty pharmaceutical company's stock valued at $573,000 after purchasing an additional 1,558 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.