Wedge Capital Management L L P NC Increases Stock Position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Wedge Capital Management L L P NC lifted its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,205 shares of the specialty pharmaceutical company’s stock after purchasing an additional 3,089 shares during the period. Wedge Capital Management L L P NC owned about 0.14% of Collegium Pharmaceutical worth $1,488,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in Collegium Pharmaceutical by 23.2% in the 4th quarter. New York State Teachers Retirement System now owns 12,474 shares of the specialty pharmaceutical company’s stock valued at $384,000 after acquiring an additional 2,350 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Collegium Pharmaceutical by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,713 shares of the specialty pharmaceutical company’s stock worth $514,000 after buying an additional 868 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Collegium Pharmaceutical by 10.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 45,862 shares of the specialty pharmaceutical company’s stock worth $1,412,000 after buying an additional 4,192 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Collegium Pharmaceutical in the 4th quarter worth about $502,000. Finally, Everence Capital Management Inc. purchased a new stake in Collegium Pharmaceutical in the 4th quarter valued at about $302,000.

Analyst Ratings Changes

Several equities analysts recently commented on COLL shares. Piper Sandler reaffirmed a “neutral” rating and set a $37.00 price target (down previously from $39.00) on shares of Collegium Pharmaceutical in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Collegium Pharmaceutical in a report on Friday, August 9th. HC Wainwright upgraded Collegium Pharmaceutical from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, July 30th. Jefferies Financial Group upgraded Collegium Pharmaceutical from a “hold” rating to a “buy” rating and upped their price target for the stock from $41.00 to $44.00 in a research note on Friday, June 7th. Finally, StockNews.com upgraded Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Collegium Pharmaceutical Stock Up 0.1 %

NASDAQ COLL traded up $0.05 during trading hours on Friday, hitting $35.53. The company had a trading volume of 9,284 shares, compared to its average volume of 467,299. The firm’s 50 day moving average is $33.40 and its 200 day moving average is $34.89. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.78 and a beta of 0.93. Collegium Pharmaceutical, Inc. has a fifty-two week low of $20.95 and a fifty-two week high of $40.95. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.21 and a quick ratio of 1.14.

Collegium Pharmaceutical (NASDAQ:COLL) last posted its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.22. The business had revenue of $145.28 million during the quarter, compared to analyst estimates of $143.94 million. Collegium Pharmaceutical had a return on equity of 104.98% and a net margin of 16.46%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. Sell-side analysts anticipate that Collegium Pharmaceutical, Inc. will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Scott Dreyer sold 56,807 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $33.98, for a total value of $1,930,301.86. Following the completion of the transaction, the executive vice president now directly owns 105,902 shares in the company, valued at $3,598,549.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Collegium Pharmaceutical news, CFO Colleen Tupper sold 19,710 shares of Collegium Pharmaceutical stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $34.21, for a total transaction of $674,279.10. Following the sale, the chief financial officer now directly owns 130,845 shares in the company, valued at approximately $4,476,207.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Dreyer sold 56,807 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $33.98, for a total value of $1,930,301.86. Following the transaction, the executive vice president now owns 105,902 shares of the company’s stock, valued at $3,598,549.96. The disclosure for this sale can be found here. Insiders own 3.98% of the company’s stock.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent, extended-release, and oral formulation of oxycodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment; Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, indicated for the management of acute, severe, and persistent pain; Belbuca, a buccal film that contains buprenorphine; and Symproic, an oral formulation of naldemedine for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.