Collegium Pharmaceutical (NASDAQ:COLL) Reaches New 52-Week Low - Time to Sell?

Key Points

• Collegium Pharmaceutical shares hit a new 52-week low, falling to $25.46 and closing near $25.54, well below the 50-day and 200-day moving averages of $33.12 and $35.13.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and an average price target of $51, although several firms recently lowered their targets and Zacks downgraded the stock to “Hold.”
• The company exceeded quarterly earnings expectations, reporting $1.92 in adjusted EPS versus $1.72 expected and revenue of $199.88 million, up 6.3% year over year; major institutional investors also increased or initiated positions.

Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $25.46 and last traded at $25.54, with a volume of 290193 shares. The stock had previously closed at $26.44.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Zacks Research downgraded Collegium Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Barclays cut their price target on Collegium Pharmaceutical from $56.00 to $48.00 and set an "overweight" rating for the company in a research note on Wednesday, August 19th. Piper Sandler reaffirmed a "neutral" rating and set a $43.00 price target (down from $45.00) on shares of Collegium Pharmaceutical in a research report on Friday, August 7th. Truist Financial upgraded shares of Collegium Pharmaceutical to a "strong-buy" rating in a research note on Monday, June 15th. Finally, Needham & Company LLC dropped their price objective on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Collegium Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $51.00.

Collegium Pharmaceutical Price Performance

The firm has a 50 day moving average price of $33.12 and a 200 day moving average price of $35.13. The stock has a market capitalization of $832.23 million, a PE ratio of 20.61 and a beta of 0.73. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 3.32.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Collegium Pharmaceutical during the 2nd quarter worth approximately $196,972,000. Jupiter Topco LLC bought a new position in shares of Collegium Pharmaceutical in the second quarter worth approximately $77,743,000. California State Teachers Retirement System boosted its position in shares of Collegium Pharmaceutical by 5,165.8% in the second quarter. California State Teachers Retirement System now owns 1,550,410 shares of the specialty pharmaceutical company's stock worth $56,125,000 after purchasing an additional 1,520,967 shares during the period. Janus Henderson Group PLC increased its stake in shares of Collegium Pharmaceutical by 59.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,448,578 shares of the specialty pharmaceutical company's stock worth $67,026,000 after purchasing an additional 538,337 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Collegium Pharmaceutical by 248.5% in the first quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company's stock worth $19,338,000 after purchasing an additional 461,914 shares in the last quarter.

About Collegium Pharmaceutical

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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