Collegium Pharmaceutical (COLL) Shares Up 0% Following Analyst Upgrade

Collegium Pharmaceutical Inc (NASDAQ:COLL) shares shot up 0% during trading on Monday after Jefferies Group raised their price target on the stock to $32.00. Jefferies Group currently has a buy rating on the stock. Collegium Pharmaceutical traded as high as $25.91 and last traded at $23.62. 1,910,000 shares were traded during mid-day trading, an increase of 208% from the average session volume of 619,791 shares. The stock had previously closed at $23.62.

Several other brokerages have also recently commented on COLL. Piper Jaffray Companies set a $33.00 target price on shares of Collegium Pharmaceutical and gave the stock a “buy” rating in a report on Tuesday, January 23rd. BidaskClub cut shares of Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Zacks Investment Research cut shares of Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Needham & Company LLC raised their target price on shares of Collegium Pharmaceutical from $28.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Janney Montgomery Scott set a $26.00 price target on shares of Collegium Pharmaceutical and gave the stock a “buy” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $27.17.

In related news, insider Alison B. Fleming sold 4,601 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $17.25, for a total transaction of $79,367.25. Following the transaction, the insider now owns 28,513 shares of the company’s stock, valued at $491,849.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Thomas Heffernan sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $15.53, for a total transaction of $776,500.00. Following the transaction, the chief executive officer now directly owns 558,987 shares in the company, valued at approximately $8,681,068.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,105,558 shares of company stock valued at $19,346,677. 25.76% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its position in Collegium Pharmaceutical by 87.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,500 shares of the specialty pharmaceutical company’s stock valued at $138,000 after acquiring an additional 3,500 shares in the last quarter. Acadian Asset Management LLC bought a new position in Collegium Pharmaceutical during the fourth quarter valued at approximately $176,000. Voya Investment Management LLC bought a new position in Collegium Pharmaceutical during the second quarter valued at approximately $125,000. Nationwide Fund Advisors raised its position in Collegium Pharmaceutical by 27.8% during the second quarter. Nationwide Fund Advisors now owns 12,889 shares of the specialty pharmaceutical company’s stock valued at $161,000 after acquiring an additional 2,802 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in Collegium Pharmaceutical during the fourth quarter valued at approximately $264,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market cap of $769.12 and a PE ratio of -7.95.

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Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing abuse-deterrent products that incorporate its DETERx platform technology for the treatment of chronic pain and other diseases. Its products include Xtampza ER and ONSOLIS. Its DETERx platform provides extended-release drug delivery, while safeguarding against common methods of abuse and tampering, including crushing, chewing, and heating and injecting.

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