Collegium Pharmaceutical (COLL) Shares Gap Up on Analyst Upgrade
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.
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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