Collegium Pharmaceutical Inc (NASDAQ:COLL) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 2,918,000 shares, a decline of 5.9% from the June 30th total of 3,100,800 shares. Currently, 10.6% of the company’s shares are sold short. Based on an average daily trading volume, of 319,100 shares, the days-to-cover ratio is currently 9.1 days.
In other Collegium Pharmaceutical news, EVP Scott Dreyer sold 2,857 shares of Collegium Pharmaceutical stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $12.31, for a total value of $35,169.67. Following the completion of the sale, the executive vice president now owns 40,596 shares in the company, valued at approximately $499,736.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Thomas Heffernan sold 25,000 shares of Collegium Pharmaceutical stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.26, for a total value of $281,500.00. Following the completion of the sale, the director now owns 132,069 shares of the company’s stock, valued at approximately $1,487,096.94. The disclosure for this sale can be found here. Insiders sold a total of 66,144 shares of company stock valued at $754,506 in the last 90 days. 8.08% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in Collegium Pharmaceutical during the 1st quarter worth $26,000. First Quadrant L P CA bought a new position in Collegium Pharmaceutical during the 1st quarter worth $36,000. BNP Paribas Arbitrage SA grew its stake in Collegium Pharmaceutical by 67,855.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,116 shares of the specialty pharmaceutical company’s stock worth $93,000 after buying an additional 6,107 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in Collegium Pharmaceutical during the 2nd quarter worth $131,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Collegium Pharmaceutical during the 2nd quarter worth $137,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:COLL traded up $0.50 during trading on Friday, reaching $11.44. 70,858 shares of the stock were exchanged, compared to its average volume of 274,333. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.20 and a current ratio of 1.25. Collegium Pharmaceutical has a 12-month low of $10.01 and a 12-month high of $19.83. The firm has a market cap of $370.21 million, a price-to-earnings ratio of -9.61 and a beta of 0.54. The firm’s 50-day moving average price is $11.46 and its 200 day moving average price is $13.71.
Collegium Pharmaceutical (NASDAQ:COLL) last announced its earnings results on Wednesday, August 7th. The specialty pharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The company had revenue of $75.04 million for the quarter, compared to analyst estimates of $75.77 million. Collegium Pharmaceutical had a negative return on equity of 26.10% and a negative net margin of 7.45%. Collegium Pharmaceutical’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) EPS. As a group, equities research analysts forecast that Collegium Pharmaceutical will post -0.38 EPS for the current year.
COLL has been the subject of a number of research reports. HC Wainwright initiated coverage on Collegium Pharmaceutical in a report on Friday, May 3rd. They set a “buy” rating and a $23.00 target price for the company. ValuEngine upgraded Collegium Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $24.00 target price (down previously from $35.00) on shares of Collegium Pharmaceutical in a report on Thursday, August 8th. Zacks Investment Research upgraded Collegium Pharmaceutical from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, BidaskClub upgraded Collegium Pharmaceutical from a “sell” rating to a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Collegium Pharmaceutical has a consensus rating of “Buy” and an average price target of $24.33.
About Collegium Pharmaceutical
Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, develops and commercializes various products for patients suffering from pain. It provides DETERx platform technology that is designed to maintain the extended-release and safety profiles of highly abused drugs in the face of various methods of abuse and misuse, including chewing, crushing, heating, and injecting.
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