Meritage Portfolio Management Purchases New Stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Meritage Portfolio Management acquired a new position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,776 shares of the specialty pharmaceutical company's stock, valued at approximately $764,000. Meritage Portfolio Management owned about 0.06% of Collegium Pharmaceutical as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gladius Capital Management LP acquired a new stake in shares of Collegium Pharmaceutical in the 2nd quarter valued at approximately $32,000. nVerses Capital LLC raised its position in shares of Collegium Pharmaceutical by 1,600.0% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the specialty pharmaceutical company's stock valued at $55,000 after acquiring an additional 1,600 shares during the period. GAMMA Investing LLC raised its position in shares of Collegium Pharmaceutical by 124.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,428 shares of the specialty pharmaceutical company's stock valued at $55,000 after acquiring an additional 792 shares during the period. CWM LLC raised its position in shares of Collegium Pharmaceutical by 97.5% in the 3rd quarter. CWM LLC now owns 1,491 shares of the specialty pharmaceutical company's stock valued at $58,000 after acquiring an additional 736 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in Collegium Pharmaceutical during the 1st quarter worth approximately $204,000.

Wall Street Analyst Weigh In

Several analysts have commented on COLL shares. Piper Sandler restated a "neutral" rating and set a $37.00 target price on shares of Collegium Pharmaceutical in a report on Friday, October 11th. Needham & Company LLC reiterated a "hold" rating on shares of Collegium Pharmaceutical in a report on Friday, August 9th. StockNews.com downgraded shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of Collegium Pharmaceutical from $40.00 to $42.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, HC Wainwright lifted their price objective on shares of Collegium Pharmaceutical from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $42.60.

Insiders Place Their Bets

In other Collegium Pharmaceutical news, EVP Thomas B. Smith sold 9,593 shares of Collegium Pharmaceutical stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.62, for a total transaction of $351,295.66. Following the completion of the transaction, the executive vice president now directly owns 53,816 shares of the company's stock, valued at $1,970,741.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Shirley R. Kuhlmann sold 19,248 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $38.30, for a total value of $737,198.40. Following the completion of the sale, the executive vice president now owns 120,161 shares of the company's stock, valued at approximately $4,602,166.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas B. Smith sold 9,593 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.62, for a total transaction of $351,295.66. Following the completion of the sale, the executive vice president now directly owns 53,816 shares of the company's stock, valued at approximately $1,970,741.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.98% of the company's stock.

Collegium Pharmaceutical Stock Up 0.1 %

Shares of NASDAQ:COLL traded up $0.02 during midday trading on Monday, hitting $32.18. The stock had a trading volume of 698,014 shares, compared to its average volume of 441,643. Collegium Pharmaceutical, Inc. has a 12 month low of $24.48 and a 12 month high of $42.29. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 1.71. The business's 50-day simple moving average is $37.07 and its 200-day simple moving average is $35.21. The company has a market cap of $1.04 billion, a P/E ratio of 13.87 and a beta of 0.95.

Collegium Pharmaceutical (NASDAQ:COLL - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.22. Collegium Pharmaceutical had a net margin of 14.78% and a return on equity of 107.50%. The firm had revenue of $145.28 million during the quarter, compared to analysts' expectations of $143.94 million. During the same period in the previous year, the business posted $1.13 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts forecast that Collegium Pharmaceutical, Inc. will post 5.81 earnings per share for the current fiscal year.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent, extended-release, and oral formulation of oxycodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment; Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, indicated for the management of acute, severe, and persistent pain; Belbuca, a buccal film that contains buprenorphine; and Symproic, an oral formulation of naldemedine for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.