Collegium Pharmaceutical (NASDAQ:COLL) Upgraded at Zacks Research

Zacks Research upgraded shares of Collegium Pharmaceutical (NASDAQ:COLL) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

COLL has been the subject of several other research reports. HC Wainwright raised shares of Collegium Pharmaceutical to a “strong-buy” rating and set a $44.00 target price for the company in a research note on Monday, August 11th. Wall Street Zen raised shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Collegium Pharmaceutical has a consensus rating of “Buy” and an average target price of $42.33.

Collegium Pharmaceutical Stock Down 0.7%

Shares of NASDAQ:COLL opened at $34.41 on Wednesday. Collegium Pharmaceutical has a 52 week low of $23.23 and a 52 week high of $42.29. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.10 and a current ratio of 1.18. The company has a market capitalization of $1.08 billion, a PE ratio of 33.09 and a beta of 0.63. The company has a 50 day moving average price of $35.65 and a two-hundred day moving average price of $31.36.

Collegium Pharmaceutical declared that its board has authorized a stock buyback plan on Monday, July 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the specialty pharmaceutical company to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Collegium Pharmaceutical

In other news, EVP Thomas B. Smith sold 17,478 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $38.42, for a total value of $671,504.76. Following the completion of the transaction, the executive vice president owned 70,264 shares in the company, valued at $2,699,542.88. This represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gino Santini sold 5,405 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $37.19, for a total transaction of $201,011.95. Following the completion of the transaction, the director owned 95,042 shares of the company’s stock, valued at $3,534,611.98. This trade represents a 5.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,792 shares of company stock worth $2,084,207 over the last ninety days. 2.51% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COLL. Texas Permanent School Fund Corp boosted its holdings in Collegium Pharmaceutical by 8.0% during the second quarter. Texas Permanent School Fund Corp now owns 99,208 shares of the specialty pharmaceutical company’s stock worth $2,934,000 after purchasing an additional 7,378 shares during the last quarter. State of Wyoming lifted its position in Collegium Pharmaceutical by 113.9% during the 2nd quarter. State of Wyoming now owns 12,297 shares of the specialty pharmaceutical company’s stock worth $364,000 after buying an additional 6,547 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Collegium Pharmaceutical by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 109,795 shares of the specialty pharmaceutical company’s stock worth $3,247,000 after buying an additional 7,549 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Collegium Pharmaceutical by 444.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,551 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 2,899 shares during the last quarter. Finally, Rubric Capital Management LP grew its holdings in shares of Collegium Pharmaceutical by 5.3% in the 2nd quarter. Rubric Capital Management LP now owns 3,157,743 shares of the specialty pharmaceutical company’s stock valued at $93,374,000 after acquiring an additional 157,743 shares in the last quarter.

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.