Supernus Pharmaceuticals (NASDAQ:SUPN) Reaches New 12-Month High - Here's Why

Key Points

• Supernus Pharmaceuticals shares reached a new 52-week high at $45.85, with a closing price of $45.77 and a trading volume of 61,663 shares.
• Analyst ratings have upgraded the stock, with Cantor Fitzgerald raising its price target from $42.00 to $46.00 and Zacks Research upgrading it from "strong sell" to "hold."
• Insider trading activity includes significant sales, with directors selling 21,457 shares collectively, indicating decreased ownership stakes in the company.

Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.85 and last traded at $45.77, with a volume of 61663 shares changing hands. The stock had previously closed at $45.12.

Analysts Set New Price Targets

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

Supernus Pharmaceuticals Price Performance

The firm has a 50-day moving average price of $38.01 and a 200 day moving average price of $34.15. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 40.00 and a beta of 0.79.

Insider Buying and Selling

In other 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 transaction, the chief executive officer owned 1,030,183 shares of the company's stock, valued at approximately $43,288,289.66. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy C. Dec sold 11,780 shares of the company's stock in a transaction that occurred 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 directly owned 1,246 shares in the company, valued at $55,434.54. The trade was a 90.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,606 shares of company stock valued at $7,617,005 in the last ninety days. 8.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Supernus Pharmaceuticals

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

Supernus Pharmaceuticals Company Profile

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.