Ballast Asset Management LP Invests $2.58 Million in Collegium Pharmaceutical, Inc. $COLL

Ballast Asset Management LP purchased a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 87,206 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,579,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Collegium Pharmaceutical by 453.9% in the 2nd quarter. CWM LLC now owns 1,407 shares of the specialty pharmaceutical company’s stock worth $42,000 after purchasing an additional 1,153 shares in the last quarter. GAMMA Investing LLC raised its holdings in Collegium Pharmaceutical by 368.9% during the second quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company’s stock worth $82,000 after buying an additional 2,169 shares during the last quarter. EMC Capital Management bought a new position in shares of Collegium Pharmaceutical in the second quarter valued at $97,000. Allworth Financial LP lifted its stake in shares of Collegium Pharmaceutical by 7,401.7% in the second quarter. Allworth Financial LP now owns 4,351 shares of the specialty pharmaceutical company’s stock valued at $129,000 after buying an additional 4,293 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Collegium Pharmaceutical by 6.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,252 shares of the specialty pharmaceutical company’s stock valued at $244,000 after buying an additional 534 shares during the last quarter.

Collegium Pharmaceutical Stock Up 1.0%

Collegium Pharmaceutical stock opened at $46.68 on Monday. The firm has a 50 day simple moving average of $38.10 and a 200 day simple moving average of $34.73. The company has a current ratio of 1.36, a quick ratio of 1.27 and a debt-to-equity ratio of 2.71. Collegium Pharmaceutical, Inc. has a 1-year low of $23.23 and a 1-year high of $48.18. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 28.99 and a beta of 0.61.

Collegium Pharmaceutical (NASDAQ:COLL) last announced its quarterly earnings results on Wednesday, September 4th. The specialty pharmaceutical company reported $1.26 earnings per share for the quarter. Collegium Pharmaceutical had a return on equity of 102.03% and a net margin of 7.72%.The firm had revenue of $135.55 million for the quarter. On average, analysts predict that Collegium Pharmaceutical, Inc. will post 5.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Colleen Tupper sold 30,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $40.53, for a total value of $1,215,900.00. Following the completion of the transaction, the chief financial officer directly owned 126,667 shares in the company, valued at approximately $5,133,813.51. The trade was a 19.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lifted their price target on Collegium Pharmaceutical from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Wall Street Zen raised Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price on shares of Collegium Pharmaceutical in a research report on Tuesday, October 28th. Zacks Research upgraded Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a report on Friday, November 21st. Finally, HC Wainwright increased their price target on Collegium Pharmaceutical from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.25.

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.