Needham & Company LLC Forecasts Strong Price Appreciation for Collegium Pharmaceutical (NASDAQ:COLL) Stock

Collegium Pharmaceutical (NASDAQ:COLL) had its price objective raised by research analysts at Needham & Company LLC from $48.00 to $56.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the specialty pharmaceutical company’s stock. Needham & Company LLC’s target price suggests a potential upside of 14.80% from the stock’s previous close.

A number of other brokerages also recently issued reports on COLL. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target (up previously from $46.00) on shares of Collegium Pharmaceutical in a report on Friday. Zacks Research downgraded shares of Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial set a $55.00 target price on shares of Collegium Pharmaceutical in a research note on Wednesday. Barclays assumed coverage on Collegium Pharmaceutical in a research note on Monday, December 8th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, Wall Street Zen upgraded Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.20.

Collegium Pharmaceutical Stock Performance

Shares of COLL opened at $48.78 on Thursday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 30.30 and a beta of 0.60. The business’s fifty day simple moving average is $46.04 and its two-hundred day simple moving average is $38.38. Collegium Pharmaceutical has a 12 month low of $23.23 and a 12 month high of $50.79. The company has a current ratio of 1.36, a quick ratio of 1.27 and a debt-to-equity ratio of 2.71.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its quarterly earnings results on Wednesday, September 4th. The specialty pharmaceutical company reported $1.26 earnings per share (EPS) for the quarter. Collegium Pharmaceutical had a return on equity of 102.03% and a net margin of 7.72%.The firm had revenue of $135.55 million for the quarter. Research analysts anticipate that Collegium Pharmaceutical will post 5.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Colleen Tupper sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $40.53, for a total value of $1,215,900.00. Following the transaction, the chief financial officer directly owned 126,667 shares of the company’s stock, valued at approximately $5,133,813.51. This trade represents a 19.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rita J. Balice-Gordon sold 3,650 shares of Collegium Pharmaceutical stock in a transaction on Friday, December 5th. The shares were sold at an average price of $47.03, for a total value of $171,659.50. Following the transaction, the director owned 52,629 shares in the company, valued at $2,475,141.87. This trade represents a 6.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 51,250 shares of company stock valued at $2,235,352. 2.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COLL. Federated Hermes Inc. raised its stake in Collegium Pharmaceutical by 67.0% during the 3rd quarter. Federated Hermes Inc. now owns 872 shares of the specialty pharmaceutical company’s stock worth $31,000 after acquiring an additional 350 shares during the period. CWM LLC increased its stake in shares of Collegium Pharmaceutical by 453.9% in the second quarter. CWM LLC now owns 1,407 shares of the specialty pharmaceutical company’s stock worth $42,000 after purchasing an additional 1,153 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Collegium Pharmaceutical by 137.7% in the third quarter. Hantz Financial Services Inc. now owns 1,714 shares of the specialty pharmaceutical company’s stock worth $60,000 after purchasing an additional 993 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Collegium Pharmaceutical by 744.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company’s stock valued at $73,000 after purchasing an additional 2,190 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Collegium Pharmaceutical by 368.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company’s stock valued at $82,000 after buying an additional 2,169 shares in the last quarter.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company’s core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company’s principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.