Wall Street Zen upgraded shares of Collegium Pharmaceutical (NASDAQ:COLL - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning.
Separately, Piper Sandler reissued a "neutral" rating and issued a $37.00 price target (up from $36.00) on shares of Collegium Pharmaceutical in a research report on Friday, May 9th.
Check Out Our Latest Report on COLL
Collegium Pharmaceutical Trading Up 4.0%
Shares of NASDAQ COLL traded up $1.44 during midday trading on Friday, hitting $37.58. The company's stock had a trading volume of 323,168 shares, compared to its average volume of 365,245. The business's 50 day moving average is $30.90 and its two-hundred day moving average is $29.65. The firm has a market cap of $1.18 billion, a P/E ratio of 36.14 and a beta of 0.68. Collegium Pharmaceutical has a 12-month low of $23.23 and a 12-month high of $42.29. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 3.27.
Collegium Pharmaceutical announced that its board has approved a stock buyback program on Monday, July 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the specialty pharmaceutical company to repurchase up to 15.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.
Insider Buying and Selling
In other news, Director John Gordon Freund sold 6,601 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.62, for a total value of $202,122.62. Following the completion of the sale, the director directly owned 70,658 shares in the company, valued at $2,163,547.96. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.51% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in COLL. CWM LLC lifted its stake in Collegium Pharmaceutical by 453.9% during the second quarter. CWM LLC now owns 1,407 shares of the specialty pharmaceutical company's stock worth $42,000 after purchasing an additional 1,153 shares in the last quarter. Wealthquest Corp acquired a new position in Collegium Pharmaceutical during the first quarter worth $62,000. Virtus Fund Advisers LLC raised its stake in shares of 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 valued at $69,000 after acquiring an additional 565 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Collegium Pharmaceutical by 368.9% in the second quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company's stock valued at $82,000 after acquiring an additional 2,169 shares in the last quarter. Finally, EMC Capital Management acquired a new stake in shares of Collegium Pharmaceutical in the second quarter valued at $97,000.
About Collegium Pharmaceutical
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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.
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