Cantor Fitzgerald restated their buy rating on shares of Collegium Pharmaceutical (NASDAQ:COLL) in a research note released on Thursday morning. Cantor Fitzgerald currently has a $35.00 price objective on the specialty pharmaceutical company’s stock.
“. Post 3Q18, we are reiterating our Overweight rating and our 12-month price target of $35. We remain positive on the long-term growth potential of Xtampza, which we expect to be the leading branded extended-release oxycodone over time. We think the company is only in the early stages of building a much-larger portfolio of differentiated opioid and non-opioid pain treatments. Collegium has shown a willingness to work with payers to ensure that the company’s products are available to patients without excessive payer restrictions. Collegium’s lead growth driver is Xtampza, which we continue to believe will replace OxyContin as the largest branded oxycodone ER product.”,” Cantor Fitzgerald’s analyst commented.
A number of other research analysts have also recently issued reports on the stock. HC Wainwright reiterated a buy rating on shares of Collegium Pharmaceutical in a report on Monday, September 17th. BidaskClub cut shares of Collegium Pharmaceutical from a sell rating to a strong sell rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Collegium Pharmaceutical from a sell rating to a hold rating in a report on Wednesday, August 8th. Janney Montgomery Scott set a $27.00 price objective on shares of Collegium Pharmaceutical and gave the company a buy rating in a report on Monday, August 6th. Finally, Piper Jaffray Companies set a $34.00 price objective on shares of Collegium Pharmaceutical and gave the company a buy rating in a report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Collegium Pharmaceutical presently has a consensus rating of Buy and an average price target of $31.71.
Collegium Pharmaceutical (NASDAQ:COLL) last issued its quarterly earnings data on Thursday, November 8th. The specialty pharmaceutical company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.14). The business had revenue of $70.20 million for the quarter, compared to analyst estimates of $74.79 million. Collegium Pharmaceutical had a negative net margin of 39.10% and a negative return on equity of 61.82%. The firm’s quarterly revenue was up 485.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) earnings per share. Equities analysts predict that Collegium Pharmaceutical will post -1.53 earnings per share for the current fiscal year.
In related news, Director Michael Thomas Heffernan sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $16.53, for a total transaction of $413,250.00. Following the transaction, the director now directly owns 361,000 shares of the company’s stock, valued at $5,967,330. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.76% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highland Capital Management LP lifted its position in shares of Collegium Pharmaceutical by 67.8% during the second quarter. Highland Capital Management LP now owns 508,822 shares of the specialty pharmaceutical company’s stock valued at $12,135,000 after purchasing an additional 205,600 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Collegium Pharmaceutical by 23.6% during the second quarter. Commonwealth Equity Services LLC now owns 29,539 shares of the specialty pharmaceutical company’s stock valued at $705,000 after purchasing an additional 5,640 shares in the last quarter. Granahan Investment Management Inc. MA lifted its position in shares of Collegium Pharmaceutical by 192.3% during the second quarter. Granahan Investment Management Inc. MA now owns 127,460 shares of the specialty pharmaceutical company’s stock valued at $3,040,000 after purchasing an additional 83,860 shares in the last quarter. Millennium Management LLC raised its position in Collegium Pharmaceutical by 1,171.8% in the second quarter. Millennium Management LLC now owns 361,035 shares of the specialty pharmaceutical company’s stock worth $8,611,000 after acquiring an additional 332,647 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in Collegium Pharmaceutical by 203.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 155,374 shares of the specialty pharmaceutical company’s stock worth $3,706,000 after acquiring an additional 104,255 shares during the period. 94.41% of the stock is currently owned by institutional investors.
About Collegium Pharmaceutical
Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, develops and commercializes various products for patients suffering from pain. It provides DETERx platform technology that is designed to maintain the extended-release and safety profiles of highly abused drugs in the face of various methods of abuse and tampering, including chewing, crushing, and/or dissolving.
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