Collegium Pharmaceutical, Inc. (NASDAQ:COLL) Shares Sold by Rubric Capital Management LP

Rubric Capital Management LP reduced its position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 46.4% in the 3rd quarter, Holdings Channel reports. The firm owned 1,250,000 shares of the specialty pharmaceutical company’s stock after selling 1,083,500 shares during the quarter. Rubric Capital Management LP’s holdings in Collegium Pharmaceutical were worth $48,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Collegium Pharmaceutical by 1,532.2% during the 3rd quarter. FMR LLC now owns 37,752 shares of the specialty pharmaceutical company’s stock valued at $1,459,000 after acquiring an additional 35,439 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Collegium Pharmaceutical in the third quarter valued at approximately $341,000. Penserra Capital Management LLC purchased a new stake in Collegium Pharmaceutical in the 3rd quarter valued at $757,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Collegium Pharmaceutical by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,494 shares of the specialty pharmaceutical company’s stock worth $14,741,000 after acquiring an additional 16,655 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Collegium Pharmaceutical by 17.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 765,692 shares of the specialty pharmaceutical company’s stock valued at $29,586,000 after purchasing an additional 116,327 shares during the period.

Analyst Ratings Changes

A number of brokerages have commented on COLL. Truist Financial lifted their target price on shares of Collegium Pharmaceutical from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright lifted their price target on shares of Collegium Pharmaceutical from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Piper Sandler reiterated a “neutral” rating and issued a $37.00 price objective on shares of Collegium Pharmaceutical in a research report on Friday, October 11th. Needham & Company LLC restated a “hold” rating on shares of Collegium Pharmaceutical in a research report on Friday, August 9th. Finally, StockNews.com cut Collegium Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

Insiders Place Their Bets

In related news, EVP Thomas B. Smith sold 9,593 shares of Collegium Pharmaceutical stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.62, for a total value of $351,295.66. Following the completion of the transaction, the executive vice president now owns 53,816 shares in the company, valued at $1,970,741.92. The trade was a 15.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shirley R. Kuhlmann sold 19,248 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $38.30, for a total transaction of $737,198.40. Following the transaction, the executive vice president now owns 120,161 shares of the company’s stock, valued at approximately $4,602,166.30. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.98% of the company’s stock.

Collegium Pharmaceutical Price Performance

COLL opened at $31.19 on Wednesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 13.44 and a beta of 0.95. The company has a current ratio of 0.97, a quick ratio of 0.88 and a debt-to-equity ratio of 3.43. The stock’s 50-day moving average price is $35.44 and its 200 day moving average price is $34.68. Collegium Pharmaceutical, Inc. has a 12-month low of $25.16 and a 12-month high of $42.29.

About Collegium Pharmaceutical

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.