Rubric Capital Management LP Reduces Holdings in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Rubric Capital Management LP lessened its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL - Free Report) by 46.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,250,000 shares of the specialty pharmaceutical company's stock after selling 1,083,500 shares during the period. Rubric Capital Management LP owned 3.88% of Collegium Pharmaceutical worth $48,300,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in Collegium Pharmaceutical by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,408,369 shares of the specialty pharmaceutical company's stock valued at $109,749,000 after acquiring an additional 821,541 shares in the last quarter. Vanguard Group Inc. grew its stake in Collegium Pharmaceutical by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,330,728 shares of the specialty pharmaceutical company's stock valued at $90,479,000 after acquiring an additional 17,942 shares in the last quarter. Principal Financial Group Inc. grew its stake in Collegium Pharmaceutical by 3.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,745,818 shares of the specialty pharmaceutical company's stock valued at $67,459,000 after acquiring an additional 64,958 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Collegium Pharmaceutical by 8.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,531,498 shares of the specialty pharmaceutical company's stock valued at $49,314,000 after purchasing an additional 113,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Collegium Pharmaceutical by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,039,024 shares of the specialty pharmaceutical company's stock valued at $33,457,000 after purchasing an additional 19,876 shares during the last quarter.

Insiders Place Their Bets

In other Collegium Pharmaceutical news, EVP Thomas B. Smith sold 9,593 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.62, for a total value of $351,295.66. Following the sale, the executive vice president now directly owns 53,816 shares of the company's stock, valued at approximately $1,970,741.92. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Shirley R. Kuhlmann sold 19,248 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $38.30, for a total transaction of $737,198.40. Following the completion of the sale, the executive vice president now directly owns 120,161 shares in the company, valued at approximately $4,602,166.30. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.98% of the stock is owned by company insiders.

Collegium Pharmaceutical Stock Down 1.5 %

Collegium Pharmaceutical stock traded down $0.48 during mid-day trading on Wednesday, reaching $30.71. 646,599 shares of the company's stock were exchanged, compared to its average volume of 446,940. The company has a market cap of $990.40 million, a P/E ratio of 13.47 and a beta of 0.95. Collegium Pharmaceutical, Inc. has a twelve month low of $25.16 and a twelve month high of $42.29. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 3.43. The company has a fifty day moving average of $35.44 and a 200-day moving average of $34.68.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. StockNews.com lowered shares of Collegium Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 23rd. HC Wainwright boosted their target price 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. Truist Financial upped their price objective on shares of Collegium Pharmaceutical from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Needham & Company LLC restated a "hold" rating on shares of Collegium Pharmaceutical in a report on Friday, August 9th. Finally, Piper Sandler restated a "neutral" rating and issued a $37.00 price objective on shares of Collegium Pharmaceutical in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.60.

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.