Collegium Pharmaceutical (NASDAQ:COLL) Shares Climb 4.1% – Here’s What Happened

Shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) shot up 4.1% on Wednesday. The stock traded as high as $22.14 and last traded at $22.4170. Approximately 32,509 shares changed hands during trading, a decline of 94% from the average daily volume of 571,868 shares. The stock had previously closed at $21.53.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on COLL. Needham & Company LLC lowered their target price on Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Truist Financial started coverage on shares of Collegium Pharmaceutical in a research report on Wednesday, September 9th. They issued a “buy” rating and a $49.00 price target on the stock. Barclays cut their price target on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Leerink Partners assumed coverage on shares of Collegium Pharmaceutical in a research report on Wednesday, September 9th. They set an “outperform” rating and a $45.00 price objective for the company. Finally, Wall Street Zen lowered shares of Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Collegium Pharmaceutical presently has an average rating of “Hold” and an average target price of $48.71.

Collegium Pharmaceutical Stock Performance

The stock has a market cap of $754.74 million, a price-to-earnings ratio of 3.22, a price-to-earnings-growth ratio of 0.73 and a beta of 0.73. The company’s 50-day simple moving average is $24.20 and its 200-day simple moving average is $30.89. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%. The company had revenue of $199.88 million during the quarter, compared to the consensus estimate of $199.62 million. During the same quarter in the prior year, the firm earned $1.68 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts predict that Collegium Pharmaceutical, Inc. will post 6.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Collegium Pharmaceutical

Hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP purchased a new stake in Collegium Pharmaceutical during the second quarter valued at about $1,611,000. Globeflex Capital L P acquired a new position in shares of Collegium Pharmaceutical in the second quarter worth about $1,915,000. Empowered Funds LLC acquired a new position in shares of Collegium Pharmaceutical in the second quarter worth about $2,045,000. Bank of New York Mellon Corp purchased a new position in shares of Collegium Pharmaceutical in the second quarter worth approximately $8,506,000. Finally, Bank of America Corp DE purchased a new position in shares of Collegium Pharmaceutical in the second quarter worth approximately $9,882,000.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing, acquiring and commercializing medicines for central nervous system disorders. The company’s portfolio is concentrated in pain management and includes products for chronic and acute pain, opioid-induced constipation and related conditions.

Collegium’s marketed products include Xtampza ER, an extended-release oxycodone formulation designed with the company’s DETERx abuse-deterrent technology; Nucynta and Nucynta ER, tapentadol products for acute and chronic pain; Belbuca, a buprenorphine buccal film for chronic pain; and Symproic, a treatment for opioid-induced constipation.