Eventide Asset Management LLC Has $83.65 Million Stake in Collegium Pharmaceutical, Inc. $COLL

Eventide Asset Management LLC trimmed its position in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,390,912 shares of the specialty pharmaceutical company’s stock after selling 250,489 shares during the period. Collegium Pharmaceutical accounts for 1.4% of Eventide Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Eventide Asset Management LLC owned 0.08% of Collegium Pharmaceutical worth $83,653,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in shares of Collegium Pharmaceutical by 67.0% in the third quarter. Federated Hermes Inc. now owns 872 shares of the specialty pharmaceutical company’s stock valued at $31,000 after purchasing an additional 350 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Collegium Pharmaceutical by 137.7% during the third quarter. Hantz Financial Services Inc. now owns 1,714 shares of the specialty pharmaceutical company’s stock valued at $60,000 after buying an additional 993 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Collegium Pharmaceutical by 744.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company’s stock valued at $73,000 after buying an additional 2,190 shares in the last quarter. NewEdge Advisors LLC raised its position in Collegium Pharmaceutical by 304.6% during the second quarter. NewEdge Advisors LLC now owns 3,047 shares of the specialty pharmaceutical company’s stock valued at $90,000 after buying an additional 2,294 shares during the period. Finally, EMC Capital Management acquired a new position in Collegium Pharmaceutical during the second quarter valued at $97,000.

Collegium Pharmaceutical Price Performance

Shares of NASDAQ:COLL opened at $34.50 on Friday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 20.18 and a beta of 0.67. Collegium Pharmaceutical, Inc. has a 1 year low of $23.23 and a 1 year high of $50.79. The company has a current ratio of 1.57, a quick ratio of 1.48 and a debt-to-equity ratio of 2.59. The business has a fifty day simple moving average of $44.37 and a 200 day simple moving average of $42.01.

Collegium Pharmaceutical (NASDAQ:COLL) last issued its earnings results on Thursday, February 26th. The specialty pharmaceutical company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.16). Collegium Pharmaceutical had a net margin of 8.05% and a return on equity of 98.65%. The firm had revenue of $205.45 million during the quarter, compared to analysts’ expectations of $206.36 million. During the same quarter last year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on COLL. HC Wainwright restated a “buy” rating and set a $60.00 price objective (up from $46.00) on shares of Collegium Pharmaceutical in a research report on Friday, January 9th. Zacks Research downgraded Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Truist Financial set a $58.00 price target on shares of Collegium Pharmaceutical in a research report on Tuesday, February 10th. Weiss Ratings cut shares of Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Activity

In related news, EVP Scott Dreyer sold 49,976 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $40.41, for a total value of $2,019,530.16. Following the completion of the sale, the executive vice president owned 71,770 shares of the company’s stock, valued at approximately $2,900,225.70. The trade was a 41.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.51% of the stock is currently owned by corporate insiders.

Collegium Pharmaceutical Profile

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.