Shares of Supernus Pharmaceuticals (NASDAQ: SUPN) have been downgraded from a strong-buy to a hold rating by Zacks Research, according to a report released on Monday. This change reflects a shift in the analyst’s outlook on the company, which focuses on the development of treatments for central nervous system (CNS) diseases.
Multiple financial analysts have recently provided their insights on Supernus Pharmaceuticals. On September 30, Cantor Fitzgerald raised its target price for the company’s shares from $46.00 to $63.00, maintaining an “overweight” rating. Additionally, on November 8, Wall Street Zen upgraded the stock from a “buy” rating to a “strong-buy” rating. Coverage of Supernus was initiated by Bank of America on October 29, with a “buy” rating and a price objective of $65.00. Piper Sandler also upgraded Supernus from “neutral” to “overweight,” increasing its price target from $40.00 to $65.00 in a report dated October 9. Conversely, Weiss Ratings reaffirmed a “sell (d+)” rating on the stock. Overall, the consensus rating for Supernus Pharmaceuticals is “Moderate Buy,” with a price target of $63.25 as reported by MarketBeat.
As of Monday, the stock opened at $46.16. Over the past year, Supernus Pharmaceuticals has seen a low of $29.16 and a high of $57.65. The company currently holds a market capitalization of $2.65 billion, with a price-to-earnings (P/E) ratio of -135.76 and a beta of 0.71. The firm’s 50-day moving average price stands at $48.28, while the 200-day moving average is $41.64.
In its most recent earnings report dated November 4, Supernus Pharmaceuticals announced earnings of $0.46 per share, falling short of analysts’ expectations of $0.82 by $0.36. The company reported quarterly revenue of $170.00 million, which was below the consensus estimate of $175.82 million. Despite the earnings miss, revenue increased by 9.3% compared to the same quarter last year, with the company having earned $0.69 per share during the previous year.
Insider trading activity has also been notable. Jack A. Khattar, CEO of Supernus Pharmaceuticals, sold 59,900 shares on October 9 at an average price of $50.57, totaling approximately $3,029,143.00. Following this transaction, Khattar retains 1,206,578 shares, valued at around $61,016,649.46, marking a 4.73% reduction in his ownership. Additionally, Senior Vice President Frank Mottola sold 5,000 shares on September 12 at an average price of $45.87, amounting to $229,350.00. Over the last ninety days, insiders have sold a total of 121,235 shares worth $5,923,797, with insiders owning 8.80% of the stock.
Institutional investors have also been active in the market. Hantz Financial Services Inc. increased its holdings in Supernus Pharmaceuticals by 81.7% during the third quarter, now owning 625 shares valued at $30,000 after acquiring an additional 281 shares. USA Financial Formulas purchased a new stake worth approximately $50,000 in the same quarter. Other institutional investors, such as Smartleaf Asset Management LLC and BI Asset Management Fondsmaeglerselskab A S, have also increased their stakes in the company.
Founded with a focus on CNS diseases, Supernus Pharmaceuticals offers several commercial products, including Trokendi XR, an extended-release topiramate for epilepsy and migraine prevention, and Oxtellar XR, an extended-release oxcarbazepine for treating partial onset seizures in children and adults.
As Supernus Pharmaceuticals navigates the complex landscape of pharmaceutical development, its stock performance and analyst ratings will likely continue to attract the attention of both investors and industry observers.
