Supernus Pharmaceuticals (NASDAQ:SUPN) Hits New 52-Week High – Here’s Why

Shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.40 and last traded at $46.58, with a volume of 58918 shares. The stock had previously closed at $46.00.

Wall Street Analysts Forecast Growth

SUPN has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on Supernus Pharmaceuticals from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 6th. Wall Street Zen raised Supernus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Piper Sandler boosted their target price on Supernus Pharmaceuticals from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Zacks Research raised Supernus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Supernus Pharmaceuticals Stock Performance

The stock has a market cap of $2.59 billion, a P/E ratio of 40.14 and a beta of 0.79. The firm has a 50-day moving average price of $38.01 and a 200-day moving average price of $34.15.

Insider Transactions at Supernus Pharmaceuticals

In related news, CEO Jack A. Khattar sold 140,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $42.02, for a total value of $5,882,800.00. Following the sale, the chief executive officer owned 1,030,183 shares in the company, valued at $43,288,289.66. This represents a 11.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frederick M. Hudson sold 7,457 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $42.26, for a total value of $315,132.82. Following the completion of the sale, the director owned 46,307 shares in the company, valued at $1,956,933.82. The trade was a 13.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,606 shares of company stock worth $7,617,005. 8.80% of the stock is owned by insiders.

Institutional Trading of Supernus Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new stake in Supernus Pharmaceuticals during the 2nd quarter valued at $21,908,000. Armistice Capital LLC boosted its stake in Supernus Pharmaceuticals by 7.4% during the 1st quarter. Armistice Capital LLC now owns 5,196,000 shares of the specialty pharmaceutical company’s stock valued at $170,169,000 after purchasing an additional 360,000 shares during the last quarter. Sofinnova Investments Inc. boosted its stake in shares of Supernus Pharmaceuticals by 53.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 799,253 shares of the specialty pharmaceutical company’s stock worth $25,192,000 after buying an additional 278,575 shares during the last quarter. Woodline Partners LP boosted its stake in shares of Supernus Pharmaceuticals by 124.8% in the 4th quarter. Woodline Partners LP now owns 423,828 shares of the specialty pharmaceutical company’s stock worth $15,326,000 after buying an additional 235,257 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Supernus Pharmaceuticals by 248.0% in the 4th quarter. BNP Paribas Financial Markets now owns 292,629 shares of the specialty pharmaceutical company’s stock worth $10,581,000 after buying an additional 208,552 shares during the last quarter.

About Supernus Pharmaceuticals

Supernus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system (CNS) diseases in the United States. The company's commercial products are Trokendi XR, an extended release topiramate product indicated for the treatment of epilepsy, as well as for the prophylaxis of migraine headache; and Oxtellar XR, an extended release oxcarbazepine for the monotherapy treatment of partial onset seizures in adults and children between 6 to 17 years of age.