Collegium Pharmaceutical (NASDAQ:COLL) Shares Down 6.5% – Here’s What Happened

Collegium Pharmaceutical, Inc. (NASDAQ:COLL)’s stock price fell 6.5% during mid-day trading on Monday . The company traded as low as $27.70 and last traded at $27.5610. 156,600 shares were traded during trading, a decline of 67% from the average daily volume of 481,368 shares. The stock had previously closed at $29.47.

Wall Street Analysts Forecast Growth

COLL has been the topic of several analyst reports. Piper Sandler restated a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a research report on Friday. Zacks Research cut Collegium Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen downgraded shares of Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial raised shares of Collegium Pharmaceutical to a “strong-buy” rating in a research report on Monday, June 15th. Finally, Needham & Company LLC cut their price target on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Collegium Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.60.

Collegium Pharmaceutical Price Performance

The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 3.32. The company’s fifty day simple moving average is $34.78 and its 200-day simple moving average is $37.01. The stock has a market cap of $886.12 million, a P/E ratio of 21.96 and a beta of 0.73.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings data on Thursday, August 6th. The specialty pharmaceutical company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.20. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%.The company had revenue of $199.88 million for the quarter, compared to analyst estimates of $199.62 million. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Collegium Pharmaceutical, Inc. will post 6.76 EPS for the current year.

Hedge Funds Weigh In On Collegium Pharmaceutical

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Collegium Pharmaceutical during the second quarter worth approximately $196,972,000. Deutsche Bank AG bought a new stake in Collegium Pharmaceutical in the second quarter valued at about $1,270,000. Bank of New York Mellon Corp bought a new stake in shares of Collegium Pharmaceutical in the 2nd quarter valued at about $8,506,000. State of Wyoming acquired a new stake in Collegium Pharmaceutical in the second quarter worth $218,000. Finally, One Wealth Advisors LLC bought a new position in Collegium Pharmaceutical during the second quarter worth about $310,000.

Collegium Pharmaceutical Company Profile

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on the development, manufacture and commercialization of products for pain management and opioid dependence. The company’s core expertise lies in its DETERx microsphere technology, a platform designed to provide extended-release delivery of active pharmaceutical ingredients while deterring manipulation for unintended routes of abuse.

The company’s principal marketed products include Xtampza® ER (extended-release oxycodone), which received approval from the U.S.