Collegium Pharmaceutical Stock Surges on Another "Buy" Rating

COLL is no stranger to bull notes

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.