Collegium Pharmaceutical (NASDAQ:COLL) Shares Gap Up – What’s Next?

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) gapped up before the market opened on Monday . The stock had previously closed at $30.35, but opened at $31.82. Collegium Pharmaceutical shares last traded at $31.35, with a volume of 26,389 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on COLL shares. Piper Sandler reissued a “neutral” rating and set a $37.00 price objective (up previously from $36.00) on shares of Collegium Pharmaceutical in a report on Friday, May 9th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Collegium Pharmaceutical in a report on Monday, March 24th. Wall Street Zen lowered Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC reissued a “buy” rating and set a $46.00 price objective on shares of Collegium Pharmaceutical in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

Collegium Pharmaceutical Stock Performance

The firm has a 50 day moving average of $29.38 and a two-hundred day moving average of $29.53. The stock has a market cap of $1.01 billion, a P/E ratio of 25.88 and a beta of 0.64. The company has a debt-to-equity ratio of 3.30, a quick ratio of 1.01 and a current ratio of 1.08.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its earnings results on Thursday, May 8th. The specialty pharmaceutical company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.01). Collegium Pharmaceutical had a net margin of 6.61% and a return on equity of 99.08%. The business had revenue of $177.76 million for the quarter, compared to the consensus estimate of $174.96 million. During the same quarter in the previous year, the company earned $1.45 EPS. Collegium Pharmaceutical’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts predict that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

Collegium Pharmaceutical announced that its Board of Directors has approved a share buyback program on Monday, July 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the specialty pharmaceutical company to buy up to 15.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Activity at Collegium Pharmaceutical

In related news, Director John Gordon Freund sold 6,601 shares of the firm’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 transaction of $202,122.62. Following the completion of the transaction, the director owned 70,658 shares in the company, valued at $2,163,547.96. This trade represents a 8.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.51% of the company’s stock.

Hedge Funds Weigh In On Collegium Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC acquired a new stake in Collegium Pharmaceutical during the 4th quarter valued at $40,000. Wealthquest Corp bought a new stake in Collegium Pharmaceutical in the first quarter valued at about $62,000. Virtus Fund Advisers LLC increased its holdings 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 worth $69,000 after acquiring an additional 565 shares in the last quarter. FORA Capital LLC bought a new stake in shares of Collegium Pharmaceutical in the fourth quarter worth about $223,000. Finally, Summit Global Investments bought a new stake in shares of Collegium Pharmaceutical in the fourth quarter worth about $232,000.

About Collegium Pharmaceutical

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.