Leerink Partners Initiates Coverage on Collegium Pharmaceutical (NASDAQ:COLL)

Investment analysts at Leerink Partners started coverage on shares of Collegium Pharmaceutical (NASDAQ:COLL) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “outperform” rating and a $45.00 price target on the specialty pharmaceutical company’s stock. Leerink Partners’ target price would indicate a potential upside of 92.55% from the stock’s current price.

COLL has been the topic of several other research reports. Weiss Ratings lowered Collegium Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wall Street Zen lowered Collegium Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays cut their target price on Collegium Pharmaceutical from $56.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Truist Financial upgraded shares of Collegium Pharmaceutical to a “strong-buy” rating in a research note on Monday, June 15th. Finally, Piper Sandler restated a “neutral” rating and set a $43.00 price objective (down from $45.00) on shares of Collegium Pharmaceutical in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.50.

Collegium Pharmaceutical Price Performance

Collegium Pharmaceutical stock opened at $23.37 on Wednesday. The stock has a market capitalization of $760.93 million, a price-to-earnings ratio of 18.85 and a beta of 0.72. Collegium Pharmaceutical has a 52-week low of $23.11 and a 52-week high of $50.79. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.84 and a current ratio of 1.03. The stock’s 50 day moving average price is $31.35 and its two-hundred day moving average price is $33.90.

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 net margin of 5.93% and a return on equity of 91.43%. The company had revenue of $199.88 million during the quarter, compared to analyst estimates of $199.62 million. During the same quarter in the previous year, the business posted $1.68 EPS. Collegium Pharmaceutical’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Collegium Pharmaceutical will post 6.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of COLL. BlackRock Inc. bought a new stake in Collegium Pharmaceutical during the second quarter worth $196,972,000. Jupiter Topco LLC bought a new position in Collegium Pharmaceutical during the 2nd quarter valued at $77,743,000. California State Teachers Retirement System boosted its holdings in Collegium Pharmaceutical by 5,165.8% during the 2nd quarter. California State Teachers Retirement System now owns 1,550,410 shares of the specialty pharmaceutical company’s stock worth $56,125,000 after acquiring an additional 1,520,967 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Collegium Pharmaceutical by 59.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,448,578 shares of the specialty pharmaceutical company’s stock worth $67,026,000 after acquiring an additional 538,337 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Collegium Pharmaceutical by 248.5% in the 1st quarter. Millennium Management LLC now owns 647,832 shares of the specialty pharmaceutical company’s stock worth $19,338,000 after acquiring an additional 461,914 shares in the last quarter.

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.