Bank of New York Mellon Corp cut its position in shares of Collegium Pharmaceutical Inc. (NASDAQ:COLL) by 19.1% during the second quarter, Holdings Channel reports. The firm owned 272,981 shares of the specialty pharmaceutical company’s stock after selling 64,642 shares during the period. Bank of New York Mellon Corp owned about 1.16% of Collegium Pharmaceutical worth $3,235,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of Collegium Pharmaceutical by 794.0% in the first quarter. Royal Bank of Canada now owns 11,300 shares of the specialty pharmaceutical company’s stock worth $205,000 after buying an additional 10,036 shares during the period. M&T Bank Corp purchased a new stake in shares of Collegium Pharmaceutical during the first quarter worth approximately $287,000. Nicholas Investment Partners LP purchased a new stake in shares of Collegium Pharmaceutical during the first quarter worth approximately $849,000. Tocqueville Asset Management L.P. boosted its stake in shares of Collegium Pharmaceutical by 18.2% in the second quarter. Tocqueville Asset Management L.P. now owns 51,900 shares of the specialty pharmaceutical company’s stock worth $615,000 after buying an additional 8,000 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Collegium Pharmaceutical by 47.7% in the first quarter. Goldman Sachs Group Inc. now owns 60,294 shares of the specialty pharmaceutical company’s stock worth $1,094,000 after buying an additional 19,460 shares during the period. 62.13% of the stock is owned by hedge funds and other institutional investors.
Shares of Collegium Pharmaceutical Inc. (NASDAQ:COLL) traded up 11.07% on Friday, hitting $19.26. The company had a trading volume of 800,073 shares. The stock’s market capitalization is $453.15 million. Collegium Pharmaceutical Inc. has a 52 week low of $8.24 and a 52 week high of $30.58. The firm’s 50 day moving average price is $11.33 and its 200-day moving average price is $14.41.
Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings results on Wednesday, August 10th. The specialty pharmaceutical company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by $0.29. Analysts forecast that Collegium Pharmaceutical Inc. will post ($3.86) earnings per share for the current fiscal year.
A number of equities research analysts have commented on the company. Zacks Investment Research raised Collegium Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th. Gabelli assumed coverage on Collegium Pharmaceutical in a research report on Tuesday, September 13th. They set a “buy” rating and a $25.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Collegium Pharmaceutical in a research report on Wednesday, September 14th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $27.00 target price (up previously from $26.00) on shares of Collegium Pharmaceutical in a research report on Thursday, June 23rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Collegium Pharmaceutical in a research report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Collegium Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $27.60.
In other Collegium Pharmaceutical news, Director John A. Fallon purchased 2,375 shares of the stock in a transaction on Friday, August 12th. The stock was acquired at an average price of $10.59 per share, with a total value of $25,151.25. Following the transaction, the director now directly owns 2,375 shares of the company’s stock, valued at approximately $25,151.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 37.93% of the company’s stock.
About Collegium Pharmaceutical
Collegium Pharmaceutical, Inc is a specialty pharmaceutical company. The Company is developing and planning to commercialize abuse-deterrent products that include its DETERx platform technology for the treatment of chronic pain and other diseases. The Company’s lead product candidate, Xtampza ER (Xtampza) is an abuse-deterrent, extended-release, oral formulation of oxycodone, opioid medication.
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