Collegium Pharmaceutical (NASDAQ:COLL) Share Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $23.37 and traded as high as $24.18. Collegium Pharmaceutical shares last traded at $24.03, with a volume of 656,444 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on COLL. Needham & Company LLC decreased their price target on Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Truist Financial assumed coverage on Collegium Pharmaceutical in a research report on Wednesday, September 9th. They set a “buy” rating and a $49.00 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $43.00 price objective (down from $45.00) on shares of Collegium Pharmaceutical in a research note on Friday, August 7th. Leerink Partners started coverage on Collegium Pharmaceutical in a report on Wednesday, September 9th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Oppenheimer began coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.71.

Collegium Pharmaceutical Trading Down 1.0%

The business has a 50 day moving average of $23.30 and a two-hundred day moving average of $33.36. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 3.32. The firm has a market cap of $774.93 million, a P/E ratio of 19.19, a PEG ratio of 0.75 and a beta of 0.73.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $199.88 million during the quarter, compared to analysts’ expectations of $199.62 million. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 earnings per share. Analysts predict that Collegium Pharmaceutical, Inc. will post 6.42 earnings per share for the current year.

Institutional Trading of Collegium Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in COLL. BlackRock Inc. acquired a new stake in Collegium Pharmaceutical during the second quarter worth approximately $196,972,000. Jupiter Topco LLC acquired a new stake in shares of Collegium Pharmaceutical in the 2nd quarter valued at approximately $77,743,000. Janus Henderson Group PLC boosted its position in Collegium Pharmaceutical by 26.0% in the first quarter. Janus Henderson Group PLC now owns 1,825,651 shares of the specialty pharmaceutical company’s stock valued at $60,358,000 after buying an additional 377,073 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Collegium Pharmaceutical in the 2nd quarter valued at $9,882,000. Finally, Bank of New York Mellon Corp bought a new stake in Collegium Pharmaceutical during the 2nd quarter worth $8,506,000.

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for pain management and central nervous system disorders. The company primarily serves the U.S. market and emphasizes products designed to address significant patient and healthcare-provider needs.

Its pain portfolio includes Xtampza ER, an extended-release oxycodone formulation designed with abuse-deterrent properties, as well as Nucynta and Nucynta ER, which contain tapentadol and are used to treat acute and chronic pain.