Collegium Pharmaceutical (NASDAQ:COLL) Shares Gap Up After Strong Earnings

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) shares gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $28.42, but opened at $30.33. Collegium Pharmaceutical shares last traded at $31.22, with a volume of 40,596 shares traded.

The specialty pharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The business had revenue of $181.95 million for the quarter, compared to the consensus estimate of $179.68 million. Collegium Pharmaceutical had a return on equity of 104.67% and a net margin of 14.78%.

Analyst Ratings Changes

A number of research analysts have weighed in on COLL shares. Piper Sandler cut their price objective on shares of Collegium Pharmaceutical from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Collegium Pharmaceutical in a report on Friday, January 10th. Finally, Needham & Company LLC raised shares of Collegium Pharmaceutical from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Collegium Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $43.60.

Insider Activity

In related news, EVP Shirley R. Kuhlmann sold 27,500 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $33.04, for a total value of $908,600.00. Following the transaction, the executive vice president now owns 119,184 shares of the company’s stock, valued at $3,937,839.36. This represents a 18.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.98% of the company’s stock.

Hedge Funds Weigh In On Collegium Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of COLL. JPMorgan Chase & Co. lifted its holdings in Collegium Pharmaceutical by 173.6% during the third quarter. JPMorgan Chase & Co. now owns 277,204 shares of the specialty pharmaceutical company’s stock worth $10,711,000 after buying an additional 175,892 shares during the period. Penserra Capital Management LLC bought a new position in shares of Collegium Pharmaceutical in the 3rd quarter worth $757,000. Barclays PLC lifted its stake in shares of Collegium Pharmaceutical by 152.2% during the 3rd quarter. Barclays PLC now owns 75,052 shares of the specialty pharmaceutical company’s stock worth $2,899,000 after purchasing an additional 45,291 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Collegium Pharmaceutical by 10.7% during the third quarter. Sanctuary Advisors LLC now owns 17,976 shares of the specialty pharmaceutical company’s stock valued at $695,000 after purchasing an additional 1,731 shares in the last quarter. Finally, FMR LLC boosted its position in Collegium Pharmaceutical by 1,532.2% during the third quarter. FMR LLC now owns 37,752 shares of the specialty pharmaceutical company’s stock valued at $1,459,000 after purchasing an additional 35,439 shares in the last quarter.

Collegium Pharmaceutical Price Performance

The company has a market cap of $974.18 million, a PE ratio of 13.33 and a beta of 0.82. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 3.43. The firm has a 50 day simple moving average of $30.84 and a 200-day simple moving average of $33.51.

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.