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

Key Points

• Supernus Pharmaceuticals reached a new 52-week high of $46.58 during trading, with a notable trading volume of 58,918 shares.
• Analysts have increased their price targets for Supernus, with an average target of $43.00, and ratings varying from "buy" to "hold".
• Recent insider trading saw significant sales, with 179,606 shares sold over the last 90 days, indicating possible shifts in investor confidence.

Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN - Get Free Report) reached a new 52-week high during 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.

Analysts Set New Price Targets

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

Supernus Pharmaceuticals Price Performance

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

Insider Transactions at Supernus Pharmaceuticals

In other news, Director Bethany Sensenig sold 5,369 shares of Supernus Pharmaceuticals stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $42.25, for a total value of $226,840.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy C. Dec sold 11,780 shares of Supernus Pharmaceuticals stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $44.49, for a total value of $524,092.20. Following the completion of the transaction, the chief financial officer owned 1,246 shares of the company's stock, valued at approximately $55,434.54. This trade represents a 90.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,606 shares of company stock valued at $7,617,005. 8.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Supernus Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC grew its position in Supernus Pharmaceuticals by 7.4% during the first quarter. Armistice Capital LLC now owns 5,196,000 shares of the specialty pharmaceutical company's stock worth $170,169,000 after buying an additional 360,000 shares in the last quarter. State Street Corp grew its position in Supernus Pharmaceuticals by 2.9% during the second quarter. State Street Corp now owns 2,208,560 shares of the specialty pharmaceutical company's stock worth $69,614,000 after buying an additional 63,210 shares in the last quarter. Geode Capital Management LLC grew its position in Supernus Pharmaceuticals by 5.5% during the second quarter. Geode Capital Management LLC now owns 1,399,610 shares of the specialty pharmaceutical company's stock worth $44,121,000 after buying an additional 72,991 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Supernus Pharmaceuticals by 14.6% during the first quarter. GW&K Investment Management LLC now owns 1,382,441 shares of the specialty pharmaceutical company's stock worth $45,275,000 after purchasing an additional 176,091 shares during the last quarter. Finally, Sofinnova Investments Inc. lifted its stake in Supernus Pharmaceuticals by 53.5% during the second quarter. Sofinnova Investments Inc. now owns 799,253 shares of the specialty pharmaceutical company's stock worth $25,192,000 after purchasing an additional 278,575 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.

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