Rubric Capital Management LP Lowers Stock Position in Collegium Pharmaceutical, Inc. (NASDAQ:COLL)

Rubric Capital Management LP trimmed its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 46.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned approximately 3.88% of Collegium Pharmaceutical worth $48,300,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of Collegium Pharmaceutical by 1,532.2% in the 3rd quarter. FMR LLC now owns 37,752 shares of the specialty pharmaceutical company’s stock worth $1,459,000 after buying an additional 35,439 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new position in Collegium Pharmaceutical in the third quarter worth $341,000. Penserra Capital Management LLC purchased a new position in Collegium Pharmaceutical in the third quarter worth $757,000. Charles Schwab Investment Management Inc. increased its position in shares of Collegium Pharmaceutical by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 381,494 shares of the specialty pharmaceutical company’s stock worth $14,741,000 after purchasing an additional 16,655 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Collegium Pharmaceutical by 17.9% during the 3rd 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 last quarter.

Collegium Pharmaceutical Stock Performance

Shares of COLL stock opened at $31.19 on Wednesday. Collegium Pharmaceutical, Inc. has a 52-week low of $25.16 and a 52-week high of $42.29. The company has a quick ratio of 0.88, a current ratio of 0.97 and a debt-to-equity ratio of 3.43. The stock has a market cap of $1.01 billion, a PE ratio of 13.44 and a beta of 0.95. The business has a 50-day simple moving average of $35.44 and a 200-day simple moving average of $34.68.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

Collegium Pharmaceutical Company Profile

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.