Collegium Pharmaceutical (NASDAQ:COLL) Stock Price Up 11.2% After Strong Earnings

Collegium Pharmaceutical, Inc. (NASDAQ:COLL)’s share price traded up 11.2% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $26.15 and last traded at $26.3160. 230,969 shares traded hands during trading, a decline of 60% from the average session volume of 576,856 shares. The stock had previously closed at $23.67.

The specialty pharmaceutical company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.10. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%. The firm had revenue of $216.34 million for the quarter, compared to analyst estimates of $216.03 million. During the same quarter in the prior year, the company posted $2.25 earnings per share. Collegium Pharmaceutical’s quarterly revenue was up 67.4% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial began coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 9th. They set a “buy” rating and a $49.00 price target on the stock. Weiss Ratings cut Collegium Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 4th. Barclays lowered their target price on Collegium Pharmaceutical from $56.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. Oppenheimer assumed coverage on shares of Collegium Pharmaceutical in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Zacks Research upgraded Collegium Pharmaceutical from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Collegium Pharmaceutical in the third quarter valued at approximately $36,000. Profund Advisors LLC boosted its position in shares of Collegium Pharmaceutical by 621.1% during the 3rd quarter. Profund Advisors LLC now owns 65,710 shares of the specialty pharmaceutical company’s stock worth $1,434,000 after purchasing an additional 56,597 shares in the last quarter. Vise Technologies Inc. grew its stake in Collegium Pharmaceutical by 154.3% in the third quarter. Vise Technologies Inc. now owns 14,844 shares of the specialty pharmaceutical company’s stock valued at $324,000 after acquiring an additional 9,006 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Collegium Pharmaceutical by 26.4% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,300 shares of the specialty pharmaceutical company’s stock valued at $225,000 after purchasing an additional 2,150 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Collegium Pharmaceutical by 15.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,940 shares of the specialty pharmaceutical company’s stock valued at $132,000 after acquiring an additional 778 shares in the last quarter.

Collegium Pharmaceutical Stock Up 11.0%

The company has a debt-to-equity ratio of 3.32, a current ratio of 1.03 and a quick ratio of 0.84. The stock has a fifty day moving average price of $23.08 and a two-hundred day moving average price of $33.01. The company has a market cap of $854.99 million, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 0.74 and a beta of 0.75.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for pain management and central nervous system disorders. The company primarily serves the U.S. market and emphasizes products designed to address significant patient and healthcare-provider needs.

Its pain portfolio includes Xtampza ER, an extended-release oxycodone formulation designed with abuse-deterrent properties, as well as Nucynta and Nucynta ER, which contain tapentadol and are used to treat acute and chronic pain.