Needham & Company LLC Reiterates Buy Rating for Collegium Pharmaceutical (NASDAQ:COLL)

Key Points

• Needham & Company reiterated its Buy rating on Collegium Pharmaceutical (NASDAQ:COLL) and raised its price target to $56, implying roughly a 54% upside from the current price.
• Collegium missed quarterly estimates with EPS of $2.04 vs. $2.20 expected and revenue of $205.45M vs. $206.36M, although revenue grew 12.9% year-over-year and analysts expect ~5.62 EPS for the fiscal year.
• EVP Scott Dreyer sold 49,976 shares for about $2.02M (reducing his stake ~41%); analysts' consensus is a Moderate Buy (four Buy, three Hold) with an average target of $53.40.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $56.00 target price on the specialty pharmaceutical company's stock, up from their prior target price of $54.00. Needham & Company LLC's target price indicates a potential upside of 54.27% from the stock's current price.

Several other research firms have also commented on COLL. Truist Financial set a $58.00 price objective on shares of Collegium Pharmaceutical in a research note on Tuesday, February 10th. HC Wainwright reaffirmed a "buy" rating and issued a $60.00 price target on shares of Collegium Pharmaceutical in a report on Friday. Wall Street Zen downgraded Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Barclays lowered their price objective on Collegium Pharmaceutical from $58.00 to $56.00 and set an "overweight" rating for the company in a research report on Friday, January 9th. Finally, Zacks Research lowered Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Collegium Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $53.40.

Collegium Pharmaceutical Trading Up 4.3%

Shares of NASDAQ COLL opened at $36.30 on Thursday. Collegium Pharmaceutical has a 1-year low of $23.23 and a 1-year high of $50.79. The business has a fifty day moving average price of $43.46 and a 200 day moving average price of $41.90. The stock has a market capitalization of $1.15 billion, a P/E ratio of 21.23 and a beta of 0.67. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.57 and a quick ratio of 1.48.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last announced its earnings results on Thursday, February 26th. The specialty pharmaceutical company reported $2.04 EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($0.16). The firm had revenue of $205.45 million during the quarter, compared to the consensus estimate of $206.36 million. Collegium Pharmaceutical had a return on equity of 98.65% and a net margin of 8.05%.The business's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Equities research analysts expect that Collegium Pharmaceutical will post 5.62 EPS for the current fiscal year.

Insider Activity at Collegium Pharmaceutical

In other news, EVP Scott Dreyer sold 49,976 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $40.41, for a total transaction of $2,019,530.16. Following the sale, the executive vice president directly owned 71,770 shares of the company's stock, valued at $2,900,225.70. The trade was a 41.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.51% of the company's stock.

Institutional Trading of Collegium Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Group One Trading LLC purchased a new stake in Collegium Pharmaceutical during the 4th quarter valued at about $28,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Collegium Pharmaceutical by 205.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 635 shares of the specialty pharmaceutical company's stock worth $29,000 after purchasing an additional 427 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Collegium Pharmaceutical by 67.0% during the third quarter. Federated Hermes Inc. now owns 872 shares of the specialty pharmaceutical company's stock worth $31,000 after purchasing an additional 350 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Collegium Pharmaceutical during the fourth quarter worth about $61,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Collegium Pharmaceutical by 26.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,536 shares of the specialty pharmaceutical company's stock valued at $71,000 after buying an additional 318 shares during the last quarter.

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company's core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company's principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.

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