Shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) shot up 6.6% during mid-day trading on Friday . The company traded as high as $18.56 and last traded at $18.34. 1,112,300 shares changed hands during trading, an increase of 117% from the average session volume of 511,643 shares. The stock had previously closed at $17.21.
A number of research firms have recently issued reports on COLL. Piper Jaffray Companies restated a “buy” rating and set a $24.00 target price on shares of Collegium Pharmaceutical in a research note on Thursday. Needham & Company LLC raised their target price on shares of Collegium Pharmaceutical from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday. They noted that the move was a valuation call. Jefferies Group raised their target price on shares of Collegium Pharmaceutical to $27.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Collegium Pharmaceutical in a research note on Friday, November 17th. Finally, Zacks Investment Research upgraded shares of Collegium Pharmaceutical from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Collegium Pharmaceutical presently has an average rating of “Buy” and a consensus price target of $23.50.
Collegium Pharmaceutical (NASDAQ:COLL) last issued its quarterly earnings data on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.28. Collegium Pharmaceutical had a negative net margin of 447.83% and a negative return on equity of 77.11%. The business had revenue of $11.95 million during the quarter, compared to analysts’ expectations of $5.31 million. During the same quarter in the previous year, the company earned ($1.13) EPS. The business’s revenue was up 2814.6% on a year-over-year basis. sell-side analysts predict that Collegium Pharmaceutical, Inc. will post -2.56 earnings per share for the current fiscal year.
In other Collegium Pharmaceutical news, CEO Michael Thomas Heffernan sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $15.53, for a total value of $776,500.00. Following the transaction, the chief executive officer now directly owns 558,987 shares of the company’s stock, valued at approximately $8,681,068.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alison B. Fleming sold 4,601 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $17.25, for a total transaction of $79,367.25. Following the completion of the transaction, the insider now directly owns 28,513 shares in the company, valued at $491,849.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,630 shares of company stock worth $924,360. Insiders own 25.76% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. American International Group Inc. grew its holdings in shares of Collegium Pharmaceutical by 27.8% during the 1st quarter. American International Group Inc. now owns 9,948 shares of the specialty pharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,163 shares during the last quarter. Voya Investment Management LLC bought a new stake in shares of Collegium Pharmaceutical during the 2nd quarter valued at approximately $125,000. Credit Suisse AG grew its holdings in shares of Collegium Pharmaceutical by 9.4% during the 1st quarter. Credit Suisse AG now owns 13,630 shares of the specialty pharmaceutical company’s stock valued at $137,000 after purchasing an additional 1,173 shares during the last quarter. UBS Group AG grew its holdings in shares of Collegium Pharmaceutical by 283.2% during the 1st quarter. UBS Group AG now owns 13,767 shares of the specialty pharmaceutical company’s stock valued at $139,000 after purchasing an additional 10,174 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Collegium Pharmaceutical by 27.8% during the 2nd quarter. Nationwide Fund Advisors now owns 12,889 shares of the specialty pharmaceutical company’s stock valued at $161,000 after purchasing an additional 2,802 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors.
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Collegium Pharmaceutical Company Profile
Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing abuse-deterrent products that incorporate its DETERx platform technology for the treatment of chronic pain and other diseases. Its products include Xtampza ER and ONSOLIS. Its DETERx platform provides extended-release drug delivery, while safeguarding against common methods of abuse and tampering, including crushing, chewing, and heating and injecting.
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