Collegium Pharmaceutical (NASDAQ:COLL) Stock Price Target Cut by Needham & Company LLC

Collegium Pharmaceutical (NASDAQ:COLL) had its price objective cut by Needham & Company LLC from $46.00 to $44.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC‘s target price suggests a potential upside of 77.20% from the company’s previous close.

Several other research analysts also recently commented on COLL. Leerink Partners started coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 target price on the stock. Piper Sandler reissued 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 initiated coverage on shares of Collegium Pharmaceutical in a report on Wednesday, September 9th. They issued a “buy” rating and a $49.00 price target on the stock. Oppenheimer initiated coverage on shares of Collegium Pharmaceutical in a research report on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 price objective on the stock. Finally, Zacks Research raised shares of Collegium Pharmaceutical from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.43.

Collegium Pharmaceutical Trading Up 4.9%

Collegium Pharmaceutical stock traded up $1.16 during trading hours on Thursday, reaching $24.83. The company had a trading volume of 571,797 shares, compared to its average volume of 578,313. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.03 and a quick ratio of 0.84. The company has a 50-day moving average price of $23.08 and a 200 day moving average price of $33.01. The firm has a market cap of $808.40 million, a price-to-earnings ratio of 19.96, a P/E/G ratio of 0.74 and a beta of 0.75. Collegium Pharmaceutical has a 12-month low of $21.43 and a 12-month high of $50.79.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings data on Thursday, November 5th. The specialty pharmaceutical company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.10. The firm had revenue of $216.34 million during the quarter, compared to analyst estimates of $216.03 million. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%. The business’s quarterly revenue was up 67.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 earnings per share. Equities analysts forecast that Collegium Pharmaceutical will post 6.42 earnings per share for the current year.

Hedge Funds Weigh In On Collegium Pharmaceutical

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Collegium Pharmaceutical during the third quarter valued at approximately $36,000. Profund Advisors LLC boosted its holdings in Collegium Pharmaceutical by 621.1% in the third quarter. Profund Advisors LLC now owns 65,710 shares of the specialty pharmaceutical company’s stock valued at $1,434,000 after acquiring an additional 56,597 shares in the last quarter. Vise Technologies Inc. boosted its holdings in Collegium Pharmaceutical by 154.3% in the third quarter. Vise Technologies Inc. now owns 14,844 shares of the specialty pharmaceutical company’s stock valued at $324,000 after acquiring an additional 9,006 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Collegium Pharmaceutical by 26.4% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,300 shares of the specialty pharmaceutical company’s stock valued at $225,000 after purchasing an additional 2,150 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Collegium Pharmaceutical by 15.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,940 shares of the specialty pharmaceutical company’s stock valued at $132,000 after purchasing an additional 778 shares during the period.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for pain management and central nervous system disorders. The company primarily serves the U.S. market and emphasizes products designed to address significant patient and healthcare-provider needs.

Its pain portfolio includes Xtampza ER, an extended-release oxycodone formulation designed with abuse-deterrent properties, as well as Nucynta and Nucynta ER, which contain tapentadol and are used to treat acute and chronic pain.