Bank of America Corp DE Buys New Stake in Supernus Pharmaceuticals, Inc. $SUPN

Key Points

• Bank of America acquired 621,102 shares of Supernus Pharmaceuticals during the second quarter, worth approximately $28.9 million and representing about 1.07% of the company.
• Supernus reported quarterly revenue of $219.1 million, up 32.4% year over year and above estimates, but posted an adjusted loss of $1.01 per share versus the expected $0.42 profit.
• Shares opened at $43.75, while analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $62.83.

Bank of America Corp DE bought a new stake in shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 621,102 shares of the specialty pharmaceutical company's stock, valued at approximately $28,887,000. Bank of America Corp DE owned about 1.07% of Supernus Pharmaceuticals as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Sit Investment Associates Inc. lifted its stake in shares of Supernus Pharmaceuticals by 0.4% during the fourth quarter. Sit Investment Associates Inc. now owns 65,200 shares of the specialty pharmaceutical company's stock valued at $3,240,000 after buying an additional 250 shares during the period. Summit Global Investments grew its stake in Supernus Pharmaceuticals by 6.1% in the 1st quarter. Summit Global Investments now owns 4,436 shares of the specialty pharmaceutical company's stock worth $229,000 after acquiring an additional 256 shares during the period. PNC Financial Services Group Inc. grew its stake in Supernus Pharmaceuticals by 2.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 14,548 shares of the specialty pharmaceutical company's stock worth $752,000 after acquiring an additional 321 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Supernus Pharmaceuticals by 73.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,083 shares of the specialty pharmaceutical company's stock worth $54,000 after purchasing an additional 458 shares during the last quarter. Finally, NDVR Inc. boosted its holdings in shares of Supernus Pharmaceuticals by 12.7% during the fourth quarter. NDVR Inc. now owns 4,873 shares of the specialty pharmaceutical company's stock worth $242,000 after purchasing an additional 549 shares during the last quarter.

Supernus Pharmaceuticals Trading Up 2.3%

Shares of NASDAQ SUPN opened at $43.75 on Wednesday. The stock has a fifty day moving average price of $45.36 and a 200 day moving average price of $47.46. Supernus Pharmaceuticals, Inc. has a 12-month low of $40.51 and a 12-month high of $59.68. The company has a market cap of $2.55 billion, a P/E ratio of -22.79, a P/E/G ratio of 0.79 and a beta of 0.56.

Supernus Pharmaceuticals (NASDAQ:SUPN - Get Free Report) last issued its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($1.43). Supernus Pharmaceuticals had a positive return on equity of 11.13% and a negative net margin of 13.23%.The company had revenue of $219.06 million during the quarter, compared to analysts' expectations of $205.31 million. During the same period in the previous year, the company earned $0.40 EPS. Supernus Pharmaceuticals's quarterly revenue was up 32.4% on a year-over-year basis. On average, sell-side analysts forecast that Supernus Pharmaceuticals, Inc. will post 1.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SUPN. Zacks Research lowered Supernus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 4th. Cantor Fitzgerald increased their price objective on shares of Supernus Pharmaceuticals from $63.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Weiss Ratings reissued a "sell (d+)" rating on shares of Supernus Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered shares of Supernus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $62.83.

Supernus Pharmaceuticals Company Profile

Supernus Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing treatments for central nervous system (CNS) disorders. The company's portfolio addresses conditions including epilepsy, migraine and attention-deficit/hyperactivity disorder (ADHD), with an emphasis on extended-release and other drug-delivery technologies.

Supernus markets Oxtellar XR (oxcarbazepine extended-release) for the treatment of partial-onset seizures and Trokendi XR (topiramate extended-release) for certain epilepsy indications and the prevention of migraine headaches.

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