Fintel reports that on August 4, 2023, Needham reiterated coverage of Collegium Pharmaceutical (NASDAQ:COLL) with a Buy recommendation.
Analyst Price Forecast Suggests 44.38% Upside
As of August 2, 2023, the average one-year price target for Collegium Pharmaceutical is 33.92. The forecasts range from a low of 30.30 to a high of $36.75. The average price target represents an increase of 44.38% from its latest reported closing price of 23.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Collegium Pharmaceutical is 562MM, an increase of 4.59%. The projected annual non-GAAP EPS is 1.58.
What is the Fund Sentiment?
There are 471 funds or institutions reporting positions in Collegium Pharmaceutical. This is an increase of 17 owner(s) or 3.74% in the last quarter. Average portfolio weight of all funds dedicated to COLL is 0.15%, a decrease of 9.65%. Total shares owned by institutions increased in the last three months by 6.53% to 48,710K shares. 
The put/call ratio of COLL is 10.06, indicating a bearish outlook.
What are Other Shareholders Doing?
Rubric Capital Management holds 3,274K shares representing 9.46% ownership of the company. In it's prior filing, the firm reported owning 3,334K shares, representing a decrease of 1.82%. The firm decreased its portfolio allocation in COLL by 39.60% over the last quarter.
Eventide Asset Management holds 2,630K shares representing 7.60% ownership of the company. In it's prior filing, the firm reported owning 2,630K shares, representing an increase of 0.02%. The firm decreased its portfolio allocation in COLL by 3.77% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,448K shares representing 7.08% ownership of the company. In it's prior filing, the firm reported owning 2,488K shares, representing a decrease of 1.62%. The firm decreased its portfolio allocation in COLL by 1.13% over the last quarter.
Principal Financial Group holds 1,551K shares representing 4.48% ownership of the company. In it's prior filing, the firm reported owning 1,671K shares, representing a decrease of 7.74%. The firm decreased its portfolio allocation in COLL by 48.30% over the last quarter.
ETGLX - Eventide Gilead Fund Class N holds 1,344K shares representing 3.89% ownership of the company. No change in the last quarter.
Collegium Pharmaceutical Background Information
(This description is provided by the company.)
Collegium Pharmaceutical Inc. is a specialty pharmaceutical company committed to being the leader in responsible pain management. Collegium's headquarters are located in Stoughton, Massachusetts.
Additional reading:
- Press Release, dated August 3, 2023
- Earnings Presentation, dated August 3, 2023
- Third Amendment to Loan Agreement, dated as of June 23, 2023, by and among Collegium Pharmaceutical, Inc., the guarantors party thereto, BioPharma Credit PLC, and Bio Pharma Credit Investments V (Master) LP, as lenders.
- Collegium Reports First Quarter 2023 Financial Results – Generated Record Net Revenue of $144.8 Million – – Delivered Record Belbuca® and Xtampza® ER Net Revenue – – Ended Q1’23 with Cash Balance of $269.5 Million – – Reaffirmed Full Year 2023 Guidan
- Forward-Looking Statements This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. We may, in some cases, use terms such as "predicts," "forecasts," "believes," "potential," "p
This story originally appeared on Fintel.
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