Peregrine Capital Management LLC Makes New Investment in Collegium Pharmaceutical, Inc. $COLL

Peregrine Capital Management LLC purchased a new position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 96,306 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,185,000. Peregrine Capital Management LLC owned approximately 0.30% of Collegium Pharmaceutical as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Group One Trading LLC purchased a new position in Collegium Pharmaceutical during the fourth quarter valued at $28,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Collegium Pharmaceutical by 205.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 635 shares of the specialty pharmaceutical company’s stock worth $29,000 after acquiring an additional 427 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Collegium Pharmaceutical during the fourth quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Collegium Pharmaceutical by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,536 shares of the specialty pharmaceutical company’s stock worth $71,000 after purchasing an additional 318 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Collegium Pharmaceutical by 744.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,484 shares of the specialty pharmaceutical company’s stock worth $73,000 after purchasing an additional 2,190 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research raised shares of Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Truist Financial upgraded shares of Collegium Pharmaceutical to a “strong-buy” rating in a research note on Monday, June 15th. HC Wainwright reiterated a “buy” rating and set a $60.00 price target on shares of Collegium Pharmaceutical in a report on Friday, March 20th. Finally, Weiss Ratings cut shares of Collegium Pharmaceutical from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $57.50.

Collegium Pharmaceutical Price Performance

NASDAQ COLL opened at $37.03 on Friday. Collegium Pharmaceutical, Inc. has a one year low of $29.19 and a one year high of $50.79. The stock has a 50-day moving average of $34.28 and a 200 day moving average of $39.28. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.62 and a current ratio of 1.71. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 18.15 and a beta of 0.73.

Collegium Pharmaceutical (NASDAQ:COLL) last posted its earnings results on Thursday, May 7th. The specialty pharmaceutical company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.24. The business had revenue of $193.52 million for the quarter, compared to analysts’ expectations of $184.47 million. Collegium Pharmaceutical had a net margin of 9.41% and a return on equity of 95.18%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. On average, sell-side analysts forecast that Collegium Pharmaceutical, Inc. will post 6.76 EPS for the current year.

About Collegium Pharmaceutical

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.