Acorn Financial Advisory Services Inc. ADV Sells 1,427 Shares of Collegium Pharmaceutical, Inc. $COLL

Acorn Financial Advisory Services Inc. ADV lessened its stake in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,232 shares of the specialty pharmaceutical company’s stock after selling 1,427 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Collegium Pharmaceutical were worth $1,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COLL. CWM LLC raised its stake in shares of Collegium Pharmaceutical by 453.9% during the second quarter. CWM LLC now owns 1,407 shares of the specialty pharmaceutical company’s stock valued at $42,000 after acquiring an additional 1,153 shares in the last quarter. Wealthquest Corp purchased a new position in Collegium Pharmaceutical during the first quarter valued at approximately $62,000. GAMMA Investing LLC increased its holdings in Collegium Pharmaceutical by 368.9% during the second quarter. GAMMA Investing LLC now owns 2,757 shares of the specialty pharmaceutical company’s stock valued at $82,000 after buying an additional 2,169 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Collegium Pharmaceutical during the first quarter valued at approximately $244,000. Finally, Farther Finance Advisors LLC increased its holdings in Collegium Pharmaceutical by 4.5% during the first quarter. Farther Finance Advisors LLC now owns 11,091 shares of the specialty pharmaceutical company’s stock valued at $326,000 after buying an additional 477 shares during the period.

Insider Activity at Collegium Pharmaceutical

In other news, Director Gino Santini sold 5,405 shares of Collegium Pharmaceutical stock in a transaction on Friday, August 15th. The shares were sold at an average price of $37.19, for a total transaction of $201,011.95. Following the completion of the sale, the director directly owned 95,042 shares in the company, valued at approximately $3,534,611.98. The trade was a 5.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas B. Smith sold 17,478 shares of Collegium Pharmaceutical stock in a transaction on Friday, August 29th. The stock was sold at an average price of $38.42, for a total transaction 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. The trade was a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,792 shares of company stock valued at $2,084,207. 2.51% of the stock is currently owned by corporate insiders.

Collegium Pharmaceutical Price Performance

NASDAQ COLL opened at $32.04 on Tuesday. The firm’s fifty day simple moving average is $36.21 and its two-hundred day simple moving average is $31.69. 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, Inc. has a 12-month low of $23.23 and a 12-month high of $39.95. The firm has a market capitalization of $1.01 billion, a P/E ratio of 30.81 and a beta of 0.65.

Collegium Pharmaceutical (NASDAQ:COLL) last released its quarterly earnings results on Wednesday, September 4th. The specialty pharmaceutical company reported $1.26 earnings per share (EPS) for the quarter. Collegium Pharmaceutical had a net margin of 5.13% and a return on equity of 97.28%. The business had revenue of $135.55 million for the quarter. Analysts forecast that Collegium Pharmaceutical, Inc. will post 5.62 EPS for the current fiscal year.

Collegium Pharmaceutical announced that its board has approved a stock buyback program 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 programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently issued reports on COLL shares. Zacks Research raised shares of Collegium Pharmaceutical from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Collegium Pharmaceutical in a report on Wednesday, October 8th. Wall Street Zen raised shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, HC Wainwright raised shares of Collegium Pharmaceutical to a “strong-buy” rating and set a $44.00 price objective on the stock in a report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Collegium Pharmaceutical has an average rating of “Buy” and a consensus target price of $42.33.

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.