Targeting stocks with recently announced buyback programs can be beneficial for investors. Buyback programs can be seen as a signal of confidence by the company’s management in the future prospects of the business. When a company announces a buyback program, it indicates that it believes its stock is undervalued and that it has excess cash available to repurchase shares, which can be interpreted as a positive sign for investors. Buybacks can also potentially increase the value of the remaining shares by reducing the total number of shares outstanding, which could lead to higher earnings per share and potentially higher stock prices.
Here are three stock buybacks for the week –
XOMA Corporation – SYM: XOMA
Recent Price: $20.83
Buyback Action: The Board of Directors approved a new $50 million share repurchase program, equal to around 20% of its market cap at announcement.
Description: XOMA Corporation operates as a biotech royalty aggregator in Europe, the United States, and the Asia Pacific. The company engages in helping biotech companies for enhancing human health.
50-year Wall Street Insider Names #1 stock for AI “Tidal Wave”
Microsoft’s CEO says AI is a “tidal wave” with more potential than the internet.
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Learn more here.
Playa Hotels & Resorts N.V. – SYM: PLYA
Recent Price: $8.44
Buyback Action: The Board of Directors of this resort manager announced that it had approved a new $200 million stock repurchase agreement. This represents around 18% of its market cap at announcement.
Description: Playa Hotels & Resorts N.V., together with its subsidiaries, owns, develops, and operates resorts in prime beachfront locations in Mexico and the Caribbean. Playa Hotels & Resorts N.V. was founded in 2006 and is headquartered in Fairfax, Virginia.
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Collegium Pharmaceutical, Inc. – SYM: COLL
Recent Price: $31.41
Buyback Action: The Board of Directors authorized a new $150 million stock repurchase program, equal to around 13% of its market cap at announcement.
Description: Collegium Pharmaceutical, Inc., a specialty pharmaceutical company, develops and commercializes medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent 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; 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. The company was formerly known as Collegium Pharmaceuticals, Inc. and changed its name to Collegium Pharmaceutical, Inc. in October 2003. Collegium Pharmaceutical, Inc. was incorporated in 2002 and is headquartered in Stoughton, Massachusetts.