Millennium Management LLC Buys 110,499 Shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Millennium Management LLC boosted its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 57.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,870 shares of the specialty pharmaceutical company’s stock after purchasing an additional 110,499 shares during the period. Millennium Management LLC owned about 0.93% of Collegium Pharmaceutical worth $9,785,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Collegium Pharmaceutical in the 2nd quarter valued at approximately $32,000. nVerses Capital LLC boosted its stake in shares of Collegium Pharmaceutical by 1,600.0% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the specialty pharmaceutical company’s stock worth $55,000 after buying an additional 1,600 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in shares of Collegium Pharmaceutical in the 1st quarter valued at about $204,000. AXA S.A. acquired a new stake in shares of Collegium Pharmaceutical in the second quarter valued at about $209,000. Finally, Gallacher Capital Management LLC bought a new stake in Collegium Pharmaceutical during the first quarter worth about $223,000.

Analyst Ratings Changes

COLL has been the subject of a number of analyst reports. HC Wainwright raised their price target on Collegium Pharmaceutical from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Truist Financial raised their target price on shares of Collegium Pharmaceutical from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Collegium Pharmaceutical in a research report on Friday, August 9th. Piper Sandler reiterated a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of Collegium Pharmaceutical in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.60.

Collegium Pharmaceutical Price Performance

NASDAQ:COLL opened at $38.02 on Wednesday. The firm’s fifty day moving average price is $37.30 and its two-hundred day moving average price is $35.50. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.11 and a quick ratio of 1.04. The company has a market cap of $1.24 billion, a P/E ratio of 15.84 and a beta of 0.94. Collegium Pharmaceutical, Inc. has a one year low of $20.95 and a one year high of $42.29.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.22. Collegium Pharmaceutical had a net margin of 17.32% and a return on equity of 107.62%. The firm had revenue of $145.28 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same period in the prior year, the firm earned $1.13 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Collegium Pharmaceutical, Inc. will post 5.82 earnings per share for the current year.

Insider Activity at Collegium Pharmaceutical

In other news, EVP Thomas B. Smith sold 9,593 shares of Collegium Pharmaceutical stock in a transaction on Friday, September 13th. The stock was 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 owns 53,816 shares of the company’s stock, valued at approximately $1,970,741.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Collegium Pharmaceutical news, 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 transaction, the executive vice president now owns 120,161 shares in the company, valued at $4,602,166.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas B. Smith sold 9,593 shares of Collegium Pharmaceutical stock in a transaction that occurred 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 sale, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. 3.98% of the stock is currently owned by corporate insiders.

Collegium Pharmaceutical Company Profile

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.