GAMMA Investing LLC Raises Stake in Collegium Pharmaceutical, Inc. $COLL

GAMMA Investing LLC boosted its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 368.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,757 shares of the specialty pharmaceutical company’s stock after purchasing an additional 2,169 shares during the period. GAMMA Investing LLC’s holdings in Collegium Pharmaceutical were worth $82,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthquest Corp purchased a new position in shares of Collegium Pharmaceutical during the first quarter worth about $62,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $244,000. Farther Finance Advisors LLC grew its stake in shares of Collegium Pharmaceutical by 4.5% in the 1st quarter. Farther Finance Advisors LLC now owns 11,091 shares of the specialty pharmaceutical company’s stock valued at $326,000 after purchasing an additional 477 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $408,000. Finally, Belpointe Asset Management LLC purchased a new position in shares of Collegium Pharmaceutical in the 1st quarter valued at approximately $408,000.

Insider Activity at Collegium Pharmaceutical

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

Collegium Pharmaceutical Price Performance

Shares of NASDAQ COLL opened at $34.28 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 32.96 and a beta of 0.65. Collegium Pharmaceutical, Inc. has a one year low of $23.23 and a one year high of $42.29. The company’s fifty day moving average is $35.89 and its two-hundred day moving average is $31.51. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.10 and a current ratio of 1.18.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on COLL. HC Wainwright upgraded shares of Collegium Pharmaceutical to a “strong-buy” rating and set a $44.00 price objective on the stock in a research report on Monday, August 11th. Zacks Research raised shares of Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen raised shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $42.33.

Collegium Pharmaceutical Profile

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.