Collegium Pharmaceutical Inc. (COLL) Sees Strong Trading Volume
Collegium Pharmaceutical Inc. (NASDAQ:COLL) shares saw unusually-high trading volume on Wednesday . Approximately 408,818 shares were traded during trading, an increase of 89% from the previous session’s volume of 215,974 shares.The stock last traded at $12.07 and had previously closed at $11.82.
COLL has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Collegium Pharmaceutical in a report on Wednesday, September 14th. Gabelli initiated coverage on Collegium Pharmaceutical in a report on Tuesday, September 13th. They set a “buy” rating and a $25.00 target price on the stock. Zacks Investment Research cut Collegium Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st. Finally, Piper Jaffray Cos. set a $23.00 target price on Collegium Pharmaceutical and gave the company a “buy” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Collegium Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $27.60.
The firm’s market cap is $301.63 million. The firm has a 50-day moving average price of $10.61 and a 200 day moving average price of $14.46.
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Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings results on Wednesday, August 10th. The specialty pharmaceutical company reported ($1.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.29. On average, equities research analysts expect that Collegium Pharmaceutical Inc. will post ($3.86) earnings per share for the current year.
In other news, Director John A. Fallon bought 2,375 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were purchased at an average price of $10.59 per share, with a total value of $25,151.25. Following the completion of the acquisition, the director now directly owns 2,375 shares in the company, valued at $25,151.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.93% of the company’s stock.
Large investors have recently made changes to their positions in the company. Nationwide Fund Advisors boosted its stake in shares of Collegium Pharmaceutical by 73.3% in the second quarter. Nationwide Fund Advisors now owns 8,665 shares of the specialty pharmaceutical company’s stock valued at $103,000 after buying an additional 3,665 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in shares of Collegium Pharmaceutical during the second quarter valued at approximately $122,000. Royal Bank of Canada boosted its stake in shares of Collegium Pharmaceutical by 2.7% in the second quarter. Royal Bank of Canada now owns 11,600 shares of the specialty pharmaceutical company’s stock valued at $137,000 after buying an additional 300 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Collegium Pharmaceutical during the second quarter valued at approximately $143,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Collegium Pharmaceutical during the second quarter valued at approximately $148,000. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
About Collegium Pharmaceutical
Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is developing and planning to commercialize abuse-deterrent products that include its DETERx platform technology for the treatment of chronic pain and other diseases. The Company’s lead product candidate, Xtampza ER (Xtampza) is an abuse-deterrent, extended-release, oral formulation of oxycodone, opioid medication.
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