Kendall Capital Management Sells 2,380 Shares of Collegium Pharmaceutical, Inc. $COLL

Kendall Capital Management reduced its holdings in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,980 shares of the specialty pharmaceutical company’s stock after selling 2,380 shares during the quarter. Kendall Capital Management’s holdings in Collegium Pharmaceutical were worth $532,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in COLL. Wealthquest Corp bought a new position in Collegium Pharmaceutical in the 1st quarter worth about $62,000. GAMMA Investing LLC increased its stake in Collegium Pharmaceutical by 368.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company’s stock worth $82,000 after acquiring an additional 2,169 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Collegium Pharmaceutical in the 1st quarter worth about $244,000. Farther Finance Advisors LLC increased its stake in Collegium Pharmaceutical by 4.5% in the 1st quarter. Farther Finance Advisors LLC now owns 11,091 shares of the specialty pharmaceutical company’s stock worth $326,000 after acquiring an additional 477 shares during the last quarter. Finally, Fortis Capital Advisors LLC bought a new position in Collegium Pharmaceutical in the 1st quarter worth about $408,000.

Wall Street Analyst Weigh In

COLL has been the topic of a number of research analyst reports. Wall Street Zen upgraded Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Zacks Research upgraded Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Finally, HC Wainwright upgraded Collegium Pharmaceutical to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Collegium Pharmaceutical currently has a consensus rating of “Buy” and a consensus target price of $42.33.

Insider Buying and Selling

In related news, Director John Gordon Freund sold 11,659 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $34.36, for a total transaction of $400,603.24. Following the completion of the sale, the director directly owned 23,129 shares in the company, valued at $794,712.44. This represents a 33.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas B. Smith sold 17,478 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $38.42, for a total value of $671,504.76. Following the sale, the executive vice president owned 70,264 shares of the company’s stock, valued at $2,699,542.88. This represents a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,792 shares of company stock valued at $2,084,207. 2.51% of the stock is owned by insiders.

Collegium Pharmaceutical Price Performance

COLL opened at $34.41 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 33.09 and a beta of 0.63. Collegium Pharmaceutical, Inc. has a 12-month low of $23.23 and a 12-month high of $42.29. The stock has a 50-day moving average price of $35.65 and a 200-day moving average price of $31.37. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 3.27.

Collegium Pharmaceutical announced that its Board of Directors has authorized a stock repurchase plan on Monday, July 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the specialty pharmaceutical company to purchase up to 15.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Collegium Pharmaceutical Company 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.