Supernus Pharmaceuticals (NASDAQ:SUPN) Stock Picked Up by Analysts at Bank of America

Key Points

• Bank of America initiated coverage with a Buy rating and a $47 price target, implying 79.66% upside from the prior close.
• Analyst views are mixed, but the overall consensus is Moderate Buy, with an average price target of $60.20.
• Supernus missed quarterly earnings and revenue estimates, reporting $0.35 EPS versus $0.49 expected and $208.6 million in revenue versus $217.56 million expected; revenue nevertheless grew 18% year over year.

Equities research analysts at Bank of America assumed coverage on shares of Supernus Pharmaceuticals (NASDAQ:SUPN - Get Free Report) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $47.00 price target on the specialty pharmaceutical company's stock. Bank of America's target price points to a potential upside of 79.66% from the stock's previous close.

Other analysts have also issued research reports about the company. Cantor Fitzgerald increased their price objective on Supernus Pharmaceuticals from $67.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, November 4th. Wall Street Zen downgraded shares of Supernus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Jefferies Financial Group assumed coverage on shares of Supernus Pharmaceuticals in a research note on Wednesday, November 4th. They issued a "strong-buy" rating for the company. Zacks Research downgraded shares of Supernus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 3rd. Finally, Weiss Ratings lowered Supernus Pharmaceuticals from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.20.

Supernus Pharmaceuticals Price Performance

Shares of Supernus Pharmaceuticals stock opened at $26.16 on Monday. Supernus Pharmaceuticals has a 1 year low of $25.92 and a 1 year high of $42.81. The business has a 50 day moving average price of $41.02 and a 200 day moving average price of $46.81. The company has a market capitalization of $3.09 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.49 and a beta of 0.84.

Supernus Pharmaceuticals (NASDAQ:SUPN - Get Free Report) last announced its earnings results on Thursday, October 29th. The specialty pharmaceutical company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.49 by ($0.14). Supernus Pharmaceuticals had a net margin of 32.75% and a negative return on equity of 418.04%. The company had revenue of $208.60 million for the quarter, compared to analyst estimates of $217.56 million. During the same quarter last year, the company posted ($0.80) EPS. Supernus Pharmaceuticals's quarterly revenue was up 18.0% compared to the same quarter last year. As a group, research analysts expect that Supernus Pharmaceuticals will post 2.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Supernus Pharmaceuticals

Several large investors have recently made changes to their positions in SUPN. Mystic Asset Management Inc. bought a new position in shares of Supernus Pharmaceuticals during the second quarter worth about $1,181,000. Bank of America Corp DE bought a new position in Supernus Pharmaceuticals in the second quarter worth about $28,887,000. BlackRock Inc. acquired a new stake in shares of Supernus Pharmaceuticals during the 2nd quarter worth approximately $434,871,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Supernus Pharmaceuticals during the 2nd quarter worth approximately $1,298,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Supernus Pharmaceuticals in the 2nd quarter worth approximately $1,386,000.

Supernus Pharmaceuticals Company Profile

Supernus Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for central nervous system disorders. Its work spans neurology and psychiatry, including therapies for epilepsy, attention-deficit/hyperactivity disorder (ADHD), and Parkinson's disease.

The company's marketed products include Qelbree for ADHD; Oxtellar XR and Trokendi XR for epilepsy; and medicines for Parkinson's disease, including Apokyn, Xadago, and Ongentys. Its portfolio also includes Gocovri, which is used to treat certain movement complications associated with Parkinson's disease.

Founded in 2005 and headquartered in Rockville, Maryland, Supernus expanded its commercial portfolio through acquisitions, including its 2022 acquisition of Adamas Pharmaceuticals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.