California State Teachers Retirement System raised its stake in Collegium Pharmaceutical Inc. (NASDAQ:COLL) by 76.0% during the second quarter, Holdings Channel reports. The institutional investor owned 28,395 shares of the specialty pharmaceutical company’s stock after buying an additional 12,258 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Collegium Pharmaceutical worth $336,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. increased its position in shares of Collegium Pharmaceutical by 155.8% in the first quarter. Franklin Resources Inc. now owns 829,599 shares of the specialty pharmaceutical company’s stock valued at $15,057,000 after buying an additional 505,299 shares in the last quarter. Sabby Management LLC acquired a new position in shares of Collegium Pharmaceutical during the first quarter valued at approximately $1,490,000. LPL Financial LLC increased its position in shares of Collegium Pharmaceutical by 105.9% in the first quarter. LPL Financial LLC now owns 108,290 shares of the specialty pharmaceutical company’s stock valued at $1,968,000 after buying an additional 55,690 shares in the last quarter. Nicholas Investment Partners LP acquired a new position in shares of Collegium Pharmaceutical during the first quarter valued at approximately $849,000. Finally, State Street Corp increased its position in shares of Collegium Pharmaceutical by 45.7% in the first quarter. State Street Corp now owns 110,573 shares of the specialty pharmaceutical company’s stock valued at $2,009,000 after buying an additional 34,708 shares in the last quarter. Institutional investors own 62.13% of the company’s stock.
Collegium Pharmaceutical Inc. (NASDAQ:COLL) traded down 2.42% during mid-day trading on Friday, reaching $17.73. The company had a trading volume of 469,818 shares. Collegium Pharmaceutical Inc. has a 12-month low of $8.24 and a 12-month high of $30.58. The company’s market capitalization is $417.15 million. The stock has a 50-day moving average of $13.73 and a 200 day moving average of $14.57.
Collegium Pharmaceutical (NASDAQ:COLL) last issued its quarterly earnings data on Wednesday, August 10th. The specialty pharmaceutical company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.76) by $0.29. On average, analysts expect that Collegium Pharmaceutical Inc. will post ($3.86) EPS for the current year.
Several research analysts have recently commented on COLL shares. Jefferies Group reiterated a “buy” rating on shares of Collegium Pharmaceutical in a research note on Thursday, September 22nd. Zacks Investment Research downgraded Collegium Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, August 15th. Piper Jaffray Cos. set a $23.00 target price on Collegium Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, August 11th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Collegium Pharmaceutical in a research note on Wednesday, September 14th. Finally, Gabelli started coverage on Collegium Pharmaceutical in a research note on Tuesday, September 13th. They issued a “buy” rating and a $25.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Collegium Pharmaceutical presently has an average rating of “Buy” and an average target price of $27.60.
In related news, Director John A. Fallon acquired 2,375 shares of the stock in a transaction dated Friday, August 12th. The stock was purchased at an average cost of $10.59 per share, with a total value of $25,151.25. Following the completion of the purchase, the director now directly owns 2,375 shares in the company, valued at approximately $25,151.25. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 37.93% of the stock is owned by insiders.
Collegium Pharmaceutical Company Profile
Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is developing and planning to commercialize abuse-deterrent products that include its DETERx platform technology for the treatment of chronic pain and other diseases. The Company’s lead product candidate, Xtampza ER (Xtampza) is an abuse-deterrent, extended-release, oral formulation of oxycodone, opioid medication.
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