Eventide Asset Management LLC Sells 514,673 Shares of Collegium Pharmaceutical, Inc. $COLL

Eventide Asset Management LLC lowered its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 21.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,876,239 shares of the specialty pharmaceutical company’s stock after selling 514,673 shares during the period. Collegium Pharmaceutical accounts for approximately 1.4% of Eventide Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Eventide Asset Management LLC owned approximately 0.06% of Collegium Pharmaceutical worth $86,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COLL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Collegium Pharmaceutical by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,046 shares of the specialty pharmaceutical company’s stock worth $569,000 after acquiring an additional 825 shares during the last quarter. Millennium Management LLC raised its position in shares of Collegium Pharmaceutical by 248.5% during the first quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company’s stock worth $19,338,000 after acquiring an additional 461,914 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Collegium Pharmaceutical by 7.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,014 shares of the specialty pharmaceutical company’s stock worth $2,120,000 after acquiring an additional 4,625 shares during the last quarter. Jane Street Group LLC raised its position in shares of Collegium Pharmaceutical by 218.7% during the first quarter. Jane Street Group LLC now owns 131,520 shares of the specialty pharmaceutical company’s stock worth $3,926,000 after acquiring an additional 90,255 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Collegium Pharmaceutical by 3.7% during the second quarter. JPMorgan Chase & Co. now owns 72,068 shares of the specialty pharmaceutical company’s stock worth $2,131,000 after acquiring an additional 2,592 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COLL. HC Wainwright restated a “buy” rating and set a $60.00 target price on shares of Collegium Pharmaceutical in a research report on Friday, March 20th. Wall Street Zen upgraded Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $56.00 price objective (up from $54.00) on shares of Collegium Pharmaceutical in a report on Thursday, March 19th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.50.

Collegium Pharmaceutical Trading Up 0.9%

NASDAQ COLL opened at $34.64 on Friday. The stock has a 50-day simple moving average of $33.99 and a 200 day simple moving average of $40.53. The company has a market capitalization of $1.12 billion, a PE ratio of 16.98 and a beta of 0.74. The company has a current ratio of 1.71, a quick ratio of 1.62 and a debt-to-equity ratio of 2.47. Collegium Pharmaceutical, Inc. has a 12 month low of $29.08 and a 12 month high of $50.79.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings data on Thursday, May 7th. The specialty pharmaceutical company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.24. The business had revenue of $193.52 million during the quarter, compared to the consensus estimate of $184.47 million. Collegium Pharmaceutical had a return on equity of 95.18% and a net margin of 9.41%.The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. Research analysts forecast that Collegium Pharmaceutical, Inc. will post 6.76 EPS for the current year.

Insider Buying and Selling

In related news, EVP David Dieter sold 13,976 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $34.92, for a total value of $488,041.92. Following the completion of the sale, the executive vice president owned 77,071 shares in the company, valued at approximately $2,691,319.32. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.85% of the company’s stock.

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.