Collegium Pharmaceutical (NASDAQ:COLL) Stock Price Up 11.2% Following Strong Earnings

Collegium Pharmaceutical, Inc. (NASDAQ:COLL)’s share price rose 11.2% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $26.15 and last traded at $26.3160. Approximately 230,969 shares were traded during mid-day trading, a decline of 60% from the average session volume of 576,856 shares. The stock had previously closed at $23.67.

The specialty pharmaceutical company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.10. Collegium Pharmaceutical had a return on equity of 91.43% and a net margin of 5.93%. The company had revenue of $216.34 million during the quarter, compared to analyst estimates of $216.03 million. During the same period in the prior year, the company posted $2.25 earnings per share. Collegium Pharmaceutical’s quarterly revenue was up 67.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on COLL shares. Weiss Ratings lowered shares of Collegium Pharmaceutical from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 4th. Barclays lowered their price target on Collegium Pharmaceutical from $56.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Needham & Company LLC dropped their price objective on shares of Collegium Pharmaceutical from $56.00 to $46.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $43.00 target price (down from $45.00) on shares of Collegium Pharmaceutical in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Collegium Pharmaceutical from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.71.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Freestone Grove Partners LP purchased a new stake in shares of Collegium Pharmaceutical during the second quarter valued at approximately $1,611,000. Globeflex Capital L P bought a new stake in shares of Collegium Pharmaceutical during the second quarter valued at approximately $1,915,000. Empowered Funds LLC purchased a new position in Collegium Pharmaceutical in the 2nd quarter worth approximately $2,045,000. Bank of America Corp DE purchased a new position in Collegium Pharmaceutical in the 2nd quarter worth approximately $9,882,000. Finally, Bank of New York Mellon Corp purchased a new position in Collegium Pharmaceutical in the 2nd quarter worth approximately $8,506,000.

Collegium Pharmaceutical Price Performance

The firm has a market capitalization of $854.99 million, a P/E ratio of 21.12, a PEG ratio of 0.74 and a beta of 0.75. 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 firm has a 50-day moving average of $23.08 and a 200-day moving average of $33.01.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc is a specialty pharmaceutical company focused on developing and commercializing medicines for pain management and central nervous system disorders. The company primarily serves the U.S. market and emphasizes products designed to address significant patient and healthcare-provider needs.

Its pain portfolio includes Xtampza ER, an extended-release oxycodone formulation designed with abuse-deterrent properties, as well as Nucynta and Nucynta ER, which contain tapentadol and are used to treat acute and chronic pain.