Collegium Pharmaceutical (NASDAQ:COLL) Hits New 52-Week Low Following Analyst Downgrade

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) reached a new 52-week low on Wednesday after Truist Financial lowered their price target on the stock from $58.00 to $49.00. Truist Financial currently has a buy rating on the stock. Collegium Pharmaceutical traded as low as $23.11 and last traded at $23.37, with a volume of 1114849 shares trading hands. The stock had previously closed at $23.53.

A number of other research firms have also recently issued reports on COLL. Leerink Partners initiated coverage on Collegium Pharmaceutical in a report on Wednesday. They issued an “outperform” rating and a $45.00 price objective for the company. Weiss Ratings cut Collegium Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 4th. Zacks Research downgraded Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a research note on Friday, August 7th. Finally, Barclays reduced their price target on shares of Collegium Pharmaceutical from $56.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Collegium Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Freestone Grove Partners LP bought a new position in Collegium Pharmaceutical during the 2nd quarter worth approximately $1,611,000. Globeflex Capital L P bought a new stake in Collegium Pharmaceutical in the second quarter valued at approximately $1,915,000. Empowered Funds LLC bought a new stake in Collegium Pharmaceutical in the second quarter valued at approximately $2,045,000. Louisiana State Employees Retirement System purchased a new stake in shares of Collegium Pharmaceutical during the first quarter valued at approximately $463,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Collegium Pharmaceutical during the first quarter valued at approximately $686,000.

Collegium Pharmaceutical Price Performance

The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 3.32. The stock has a market cap of $746.28 million, a P/E ratio of 18.48 and a beta of 0.72. The firm’s fifty day moving average price is $30.82 and its 200-day moving average price is $33.59.

Collegium Pharmaceutical (NASDAQ:COLL) last issued its earnings results on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. The company had revenue of $199.88 million for the quarter, compared to the consensus estimate of $199.62 million. Collegium Pharmaceutical had a net margin of 5.93% and a return on equity of 91.43%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 earnings per share. Analysts forecast that Collegium Pharmaceutical, Inc. will post 6.43 earnings per share for the current year.

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.