Supernus Pharmaceuticals (NASDAQ:SUPN) Sets New 1-Year High - Here's What Happened

Key Points

• Supernus Pharmaceuticals shares reached a new 52-week high of $43.73 during trading, closing at $43.29 with substantial volume of nearly 182,727 shares.
• Analysts are optimistic, with Wall Street Zen upgrading the stock from a "hold" to a "buy" rating, while Cantor Fitzgerald raised its price target to $46.00.
• CEO Jack A. Khattar sold 140,000 shares at an average price of $42.02, reducing his ownership stake by approximately 12%.

Shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $43.73 and last traded at $43.29, with a volume of 182727 shares traded. The stock had previously closed at $42.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SUPN shares. Wall Street Zen raised Supernus Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Cantor Fitzgerald lifted their price objective on Supernus Pharmaceuticals from $42.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th.

Supernus Pharmaceuticals Stock Performance

The stock has a market cap of $2.42 billion, a PE ratio of 37.44 and a beta of 0.74. The company's 50-day moving average price is $34.38 and its 200 day moving average price is $33.50.

Insider Activity at Supernus Pharmaceuticals

In other Supernus Pharmaceuticals news, CEO Jack A. Khattar sold 140,000 shares of the business'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 of the company's stock, valued at $43,288,289.66. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 8.80% of the company's stock.

Hedge Funds Weigh In On Supernus Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Rubric Capital Management LP purchased a new stake in shares of Supernus Pharmaceuticals in the second quarter valued at about $21,908,000. Armistice Capital LLC increased its holdings in 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. Sofinnova Investments Inc. increased its holdings in Supernus Pharmaceuticals by 53.5% in the second quarter. Sofinnova Investments Inc. now owns 799,253 shares of the specialty pharmaceutical company's stock valued at $25,192,000 after buying an additional 278,575 shares in the last quarter. Woodline Partners LP grew its position in shares of Supernus Pharmaceuticals by 124.8% in the fourth quarter. Woodline Partners LP now owns 423,828 shares of the specialty pharmaceutical company's stock valued at $15,326,000 after purchasing an additional 235,257 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Supernus Pharmaceuticals by 248.0% in the fourth quarter. BNP Paribas Financial Markets now owns 292,629 shares of the specialty pharmaceutical company's stock valued at $10,581,000 after purchasing 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.