Wedge Capital Management L L P NC Takes $2.70 Million Position in Collegium Pharmaceutical, Inc. $COLL

Wedge Capital Management L L P NC bought a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) in the 4th quarter, Holdings Channel reports. The firm bought 58,261 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,697,000.

A number of other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its position in Collegium Pharmaceutical by 67.0% in the 3rd quarter. Federated Hermes Inc. now owns 872 shares of the specialty pharmaceutical company’s stock worth $31,000 after purchasing an additional 350 shares during the period. Hantz Financial Services Inc. boosted its position 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 during the period. EverSource Wealth Advisors LLC grew its stake 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 during the last quarter. NewEdge Advisors LLC grew its stake in shares of 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 last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Collegium Pharmaceutical by 444.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,551 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 2,899 shares during the period.

Collegium Pharmaceutical Stock Performance

COLL opened at $32.44 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.57 and a debt-to-equity ratio of 2.59. The stock’s fifty day moving average is $41.91 and its two-hundred day moving average is $41.74. The company has a market capitalization of $1.03 billion, a P/E ratio of 18.97 and a beta of 0.67. Collegium Pharmaceutical, Inc. has a 52 week low of $23.23 and a 52 week high of $50.79.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COLL. Barclays dropped their price objective on Collegium Pharmaceutical from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Truist Financial set a $58.00 target price on Collegium Pharmaceutical in a research report on Tuesday, February 10th. Wall Street Zen lowered shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded shares of Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $56.00 price objective (up from $54.00) on shares of Collegium Pharmaceutical in a report on Thursday, March 19th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Collegium Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $53.40.

Insider Activity

In other news, EVP Scott Dreyer sold 49,976 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were 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 in the company, valued at approximately $2,900,225.70. The trade was a 41.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Dieter sold 13,976 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $34.92, for a total transaction of $488,041.92. Following the transaction, the executive vice president owned 77,071 shares in the company, valued at approximately $2,691,319.32. This represents a 15.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.51% of the stock is owned by corporate insiders.

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.