Exchange Traded Concepts LLC Reduces Holdings in Collegium Pharmaceutical, Inc. $COLL

Exchange Traded Concepts LLC cut its stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 67.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,067 shares of the specialty pharmaceutical company’s stock after selling 44,065 shares during the period. Exchange Traded Concepts LLC owned about 0.07% of Collegium Pharmaceutical worth $737,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COLL. Millennium Management LLC lifted its holdings in shares of Collegium Pharmaceutical by 248.5% in the 1st quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company’s stock valued at $19,338,000 after purchasing an additional 461,914 shares during the last quarter. Rubric Capital Management LP increased its position in Collegium Pharmaceutical by 5.3% during the second quarter. Rubric Capital Management LP now owns 3,157,743 shares of the specialty pharmaceutical company’s stock worth $93,374,000 after buying an additional 157,743 shares during the period. Loomis Sayles & Co. L P lifted its stake in Collegium Pharmaceutical by 79.9% in the second quarter. Loomis Sayles & Co. L P now owns 337,137 shares of the specialty pharmaceutical company’s stock valued at $9,969,000 after buying an additional 149,766 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Collegium Pharmaceutical in the second quarter valued at approximately $4,043,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Collegium Pharmaceutical by 90.5% in the third quarter. Assenagon Asset Management S.A. now owns 195,589 shares of the specialty pharmaceutical company’s stock valued at $6,844,000 after acquiring an additional 92,898 shares during the period.

Collegium Pharmaceutical Trading Down 0.7%

Shares of Collegium Pharmaceutical stock opened at $49.48 on Tuesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 30.73 and a beta of 0.61. Collegium Pharmaceutical, Inc. has a 52-week low of $23.23 and a 52-week high of $50.79. The company’s 50-day simple moving average is $44.22 and its 200-day simple moving average is $37.54. The company has a quick ratio of 1.27, a current ratio of 1.36 and a debt-to-equity ratio of 2.71.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its quarterly earnings data on Wednesday, September 4th. The specialty pharmaceutical company reported $1.26 earnings per share for the quarter. Collegium Pharmaceutical had a return on equity of 102.03% and a net margin of 7.72%.The company had revenue of $135.55 million for the quarter. As a group, equities research analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current year.

Insider Activity at Collegium Pharmaceutical

In related news, Director Rita J. Balice-Gordon sold 3,650 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $47.03, for a total transaction of $171,659.50. Following the transaction, the director owned 52,629 shares of the company’s stock, valued at $2,475,141.87. This represents a 6.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Dreyer sold 17,600 shares of the firm’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $48.17, for a total value of $847,792.00. Following the completion of the sale, the executive vice president directly owned 103,613 shares of the company’s stock, valued at approximately $4,991,038.21. This trade represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,250 shares of company stock worth $2,235,352 over the last three months. 2.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Zacks Research upgraded shares of Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 target price on shares of Collegium Pharmaceutical in a report on Tuesday, October 28th. Truist Financial raised their price target on Collegium Pharmaceutical from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Barclays assumed coverage on Collegium Pharmaceutical in a research report on Monday, December 8th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, HC Wainwright increased their price objective on Collegium Pharmaceutical from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $47.00.

Collegium Pharmaceutical Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company’s core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company’s principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.