Collegium Pharmaceutical, Inc. (NASDAQ:COLL) shares gapped up before the market opened on Wednesday after Needham & Company LLC raised their price target on the stock from $25.00 to $28.00. The stock had previously closed at $13.69, but opened at $16.94. Needham & Company LLC currently has a buy rating on the stock. Collegium Pharmaceutical shares last traded at $17.74, with a volume of 2355300 shares.

A number of other analysts have also recently weighed in on COLL. Zacks Investment Research upgraded shares of Collegium Pharmaceutical from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Jefferies Group raised their price target on shares of Collegium Pharmaceutical to $27.00 and gave the company a “buy” rating in a report on Tuesday. Piper Jaffray Companies set a $19.00 price objective on shares of Collegium Pharmaceutical and gave the company a “buy” rating in a research report on Wednesday, November 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Collegium Pharmaceutical in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.67.

In other news, insider Alison B. Fleming sold 4,601 shares of Collegium Pharmaceutical stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $17.25, for a total transaction of $79,367.25. Following the completion of the transaction, the insider now directly owns 28,513 shares of the company’s stock, valued at approximately $491,849.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Thomas Heffernan sold 50,000 shares of Collegium Pharmaceutical stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $15.53, for a total transaction of $776,500.00. Following the transaction, the chief executive officer now directly owns 558,987 shares of the company’s stock, valued at $8,681,068.11. The disclosure for this sale can be found here. Insiders sold a total of 58,630 shares of company stock valued at $924,360 over the last ninety days. 25.76% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. American International Group Inc. increased its holdings in shares of Collegium Pharmaceutical by 27.8% during the 1st quarter. American International Group Inc. now owns 9,948 shares of the specialty pharmaceutical company’s stock valued at $100,000 after purchasing an additional 2,163 shares in the last quarter. Voya Investment Management LLC purchased a new position in shares of Collegium Pharmaceutical during the 2nd quarter valued at approximately $125,000. Nationwide Fund Advisors increased its holdings in shares of Collegium Pharmaceutical by 27.8% during the 2nd quarter. Nationwide Fund Advisors now owns 12,889 shares of the specialty pharmaceutical company’s stock valued at $161,000 after purchasing an additional 2,802 shares in the last quarter. Credit Suisse AG grew its stake in Collegium Pharmaceutical by 9.4% in the 1st quarter. Credit Suisse AG now owns 13,630 shares of the specialty pharmaceutical company’s stock valued at $137,000 after acquiring an additional 1,173 shares during the period. Finally, UBS Group AG grew its stake in Collegium Pharmaceutical by 283.2% in the 1st quarter. UBS Group AG now owns 13,767 shares of the specialty pharmaceutical company’s stock valued at $139,000 after acquiring an additional 10,174 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.28. Collegium Pharmaceutical had a negative net margin of 447.83% and a negative return on equity of 77.11%. The firm had revenue of $11.95 million for the quarter, compared to analysts’ expectations of $5.31 million. During the same quarter last year, the company earned ($1.13) EPS. The firm’s revenue for the quarter was up 2814.6% compared to the same quarter last year. equities analysts anticipate that Collegium Pharmaceutical, Inc. will post -2.56 EPS for the current year.

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About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is engaged in developing and commercializing abuse-deterrent products that incorporate its DETERx platform technology for the treatment of chronic pain and other diseases. Its products include Xtampza ER and ONSOLIS. Its DETERx platform provides extended-release drug delivery, while safeguarding against common methods of abuse and tampering, including crushing, chewing, and heating and injecting.

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