Collegium Pharmaceutical Stock Surges on Another "Buy" Rating

The security's average 12-month price target runs in-line with Janney Montgomery's expectation

by Emma Duncan

Published on Apr 12, 2019 at 10:13 AM

Shares of Collegium Pharmaceutical Inc (NASDAQ:COLL) are making positive moves this morning, just after landing a "buy" rating and $29 price target out of Janney Montgomery. This type of bull note is not unusual for the stock, however, as all eight covering firms held "buy" or "strong buy" ratings coming into today. Plus, COLL's average 12-month price target corresponds exactly with Janney's ambitious target.

The pharmaceutical name was last seen up 3.1%, at $16.83, breaking above recent pressure from the 160-day moving average -- a trendline that performed as a line of support for the shares as recently as March. And while COLL has shed 28% over the past 12 months, it has managed to tack on nearly 28% since touching an annual low of $13.10 Feb. 12.

Digging deeper, short interest on Collegium stock has shot 16.8% higher during the past two reporting periods, and now accounts for 9.8% of its total available float. At COLL's average pace of daily trading, it would take shorts six days to buy back their bearish bets.

Lastly, now looks to be a prime time to bet on COLL stock with options. Specifically, the security's Schaeffer's Volatility Index (SVI) of 76% stands stands in the low 26th percentile of its annual range. This means that near-term options are pricing in low volatility expectations of late. 


a schaeffer's exclusive

5 HOT STOCK PICKS

Heat up your summer trading with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Future of Marijuana is in the "Priceline of Pot"
Click to continue to advertiser's site.
IPO Recap: Chewy Surges, Revolve Pushes Higher
A quick look at recent IPO news and moves
Options Traders are Going Wild for These 2 Stocks
Ashford Hospitality is eyeing its worst day in nearly eight years
The Future of Marijuana is in the "Priceline of Pot"
Click to continue to advertiser's site.