Collegium Pharmaceutical, Inc. (COLL) Major Shareholder Sells $17,340,000.00 in Stock

Collegium Pharmaceutical, Inc. (NASDAQ:COLL) major shareholder Longitude Capital Partners, Ll sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $17.34, for a total value of $17,340,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Collegium Pharmaceutical, Inc. (COLL) traded up $0.09 during mid-day trading on Tuesday, reaching $17.79. The company had a trading volume of 790,100 shares, compared to its average volume of 516,302. Collegium Pharmaceutical, Inc. has a 52 week low of $7.37 and a 52 week high of $20.92.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its quarterly earnings results on Wednesday, November 8th. The specialty pharmaceutical company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.28. The company had revenue of $11.95 million during the quarter, compared to analysts’ expectations of $5.31 million. Collegium Pharmaceutical had a negative return on equity of 77.11% and a negative net margin of 447.83%. Collegium Pharmaceutical’s quarterly revenue was up 2814.6% on a year-over-year basis. During the same period last year, the business earned ($1.13) earnings per share. equities analysts predict that Collegium Pharmaceutical, Inc. will post -2.52 EPS for the current year.

Several research analysts have recently issued reports on the company. Piper Jaffray Companies restated a “buy” rating and issued a $24.00 price objective on shares of Collegium Pharmaceutical in a research note on Thursday, December 7th. Needham & Company LLC raised their price objective on Collegium Pharmaceutical from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. They noted that the move was a valuation call. Jefferies Group raised their price objective on Collegium Pharmaceutical to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, December 5th. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of Collegium Pharmaceutical in a research note on Friday, November 17th. Finally, Zacks Investment Research upgraded Collegium Pharmaceutical from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Monday, November 13th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.50.

Hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC purchased a new position in Collegium Pharmaceutical during the second quarter valued at approximately $125,000. Credit Suisse AG raised its position in Collegium Pharmaceutical by 9.4% during the first quarter. Credit Suisse AG now owns 13,630 shares of the specialty pharmaceutical company’s stock valued at $137,000 after acquiring an additional 1,173 shares in the last quarter. Nationwide Fund Advisors raised its position in Collegium Pharmaceutical by 27.8% during the second quarter. Nationwide Fund Advisors now owns 12,889 shares of the specialty pharmaceutical company’s stock valued at $161,000 after acquiring an additional 2,802 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Collegium Pharmaceutical during the third quarter valued at approximately $192,000. Finally, Dimensional Fund Advisors LP purchased a new position in Collegium Pharmaceutical during the second quarter valued at approximately $198,000. Institutional investors own 79.98% of the company’s stock.

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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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