Collegium Pharmaceutical (NASDAQ:COLL) Hits New 52-Week Low - Here's Why

Key Points

• Collegium Pharmaceutical shares hit a new 52-week low, falling to $23.11 during Wednesday trading and closing near $23.37.
• Analyst sentiment weakened, with several firms downgrading the stock or cutting price targets. Despite this, the consensus rating remains “Moderate Buy” with a $51.00 target price.
• The company’s latest quarterly results exceeded expectations, reporting $1.92 in earnings per share and $199.88 million in revenue, while revenue increased 6.3% year over year.

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.11 and last traded at $23.37, with a volume of 1114849 shares. The stock had previously closed at $23.53.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on COLL shares. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Piper Sandler reiterated a "neutral" rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. Barclays cut their target price on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday, August 19th. Zacks Research cut shares of Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings lowered shares of Collegium Pharmaceutical from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Collegium Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Collegium Pharmaceutical Price Performance

The stock has a 50 day moving average of $31.35 and a two-hundred day moving average of $33.90. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.84 and a current ratio of 1.03. The stock has a market cap of $760.93 million, a PE ratio of 18.85 and a beta of 0.72.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.20. The company had revenue of $199.88 million during the quarter, compared to analyst estimates of $199.62 million. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 earnings per share. Equities analysts anticipate that Collegium Pharmaceutical, Inc. will post 6.51 EPS for the current year.

Hedge Funds Weigh In On Collegium Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in COLL. Group One Trading LLC acquired a new stake in Collegium Pharmaceutical during the 4th quarter valued at $28,000. Caitong International Asset Management Co. Ltd boosted its position 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 buying an additional 427 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Collegium Pharmaceutical by 42.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,408 shares of the specialty pharmaceutical company's stock valued at $47,000 after buying an additional 418 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Collegium Pharmaceutical during the fourth quarter valued at $61,000. Finally, EverSource Wealth Advisors LLC raised its position in Collegium Pharmaceutical by 744.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company's stock valued at $73,000 after buying an additional 2,190 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.