Intech Investment Management LLC Purchases New Stake in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Intech Investment Management LLC purchased a new stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,677 shares of the specialty pharmaceutical company’s stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COLL. Foundry Partners LLC purchased a new position in Collegium Pharmaceutical during the 2nd quarter valued at $492,000. Squarepoint Ops LLC increased its position in Collegium Pharmaceutical by 194.5% during the 2nd quarter. Squarepoint Ops LLC now owns 110,338 shares of the specialty pharmaceutical company’s stock valued at $3,553,000 after purchasing an additional 72,874 shares during the period. Assenagon Asset Management S.A. increased its position in Collegium Pharmaceutical by 411.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 362,137 shares of the specialty pharmaceutical company’s stock valued at $11,661,000 after purchasing an additional 291,286 shares during the period. BOKF NA purchased a new position in Collegium Pharmaceutical during the 2nd quarter valued at $490,000. Finally, Renaissance Technologies LLC increased its position in Collegium Pharmaceutical by 8.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,531,498 shares of the specialty pharmaceutical company’s stock valued at $49,314,000 after purchasing an additional 113,300 shares during the period.

Collegium Pharmaceutical Stock Performance

Shares of COLL stock opened at $30.66 on Wednesday. Collegium Pharmaceutical, Inc. has a one year low of $25.21 and a one year high of $42.29. The company’s 50-day moving average is $34.66 and its 200 day moving average is $34.59. The company has a market capitalization of $988.79 million, a price-to-earnings ratio of 13.22 and a beta of 0.80. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.88 and a current ratio of 0.97.

Analysts Set New Price Targets

COLL has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and set a $37.00 price objective on shares of Collegium Pharmaceutical in a research report on Friday, October 11th. StockNews.com downgraded shares of Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Collegium Pharmaceutical in a research report on Friday, August 9th. Truist Financial upped their target price on shares of Collegium Pharmaceutical from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, HC Wainwright upped their target price on shares of Collegium Pharmaceutical from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.60.

Insider Activity at Collegium Pharmaceutical

In related news, EVP Thomas B. Smith sold 9,593 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.62, for a total transaction of $351,295.66. Following the sale, the executive vice president now directly owns 53,816 shares of the company’s stock, valued at approximately $1,970,741.92. This represents a 15.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shirley R. Kuhlmann sold 19,248 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $38.30, for a total transaction of $737,198.40. Following the sale, the executive vice president now directly owns 120,161 shares in the company, valued at $4,602,166.30. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.98% of the stock is currently owned by insiders.

Collegium Pharmaceutical Profile

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.