Supernus Pharmaceuticals, Inc. (SUPN) Receives New Coverage from Analysts at FBR & Co
FBR & Co started coverage on shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) in a report released on Thursday. The firm issued a buy rating and a $53.00 target price on the specialty pharmaceutical company’s stock. FBR & Co also issued estimates for Supernus Pharmaceuticals’ Q3 2017 earnings at $0.28 EPS, Q4 2017 earnings at $0.25 EPS, FY2017 earnings at $1.05 EPS, Q1 2018 earnings at $0.27 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.48 EPS, Q4 2018 earnings at $0.53 EPS and FY2018 earnings at $1.70 EPS.
“We are initiating coverage of Supernus Pharmaceuticals (SUPN) with a Buy rating and a 12-month price target of $53 per share. We see strong revenue growth exceeding 25% per year for 2017–2019 with in-line drugs Trokendi XR (epilepsy/ migraine) and Oxtellar XR (epilepsy) driving growth. Starting in 2020, we expect contribution from late-stage pipeline drugs SPN-812, which is a non-stimulant ADHD drug, and SPN-810 for impulsive aggression. We model EPS at $1.05 in 2017, $1.70 in 2018, and $2.35 in 2019 including a full tax rate. Our 2017 EPS estimate compares unfavorably to 2016, which included a tax benefit of $40.8 million or ~$0.80 per share. Our price target averages our DCF valuation and a P/E-derived target, which is 35x 2018E EPS of $1.70 discounted to present at 10%. At current prices, the shares have corrected by ~18% from all-time highs after an update on pipeline drug SPN-810 raised risks on timing/approvability. We see this drop as an opportunity to establish positions.”,” FBR & Co’s analyst commented.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Supernus Pharmaceuticals from a hold rating to a buy rating and set a $49.00 price objective on the stock in a report on Thursday, July 13th. Cantor Fitzgerald increased their price objective on shares of Supernus Pharmaceuticals from $34.00 to $49.00 and gave the stock a buy rating in a report on Wednesday, July 5th. Jefferies Group LLC increased their price objective on shares of Supernus Pharmaceuticals from $45.00 to $51.00 and gave the stock a buy rating in a report on Wednesday, June 28th. BidaskClub lowered shares of Supernus Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Stifel Nicolaus reissued a buy rating and set a $47.00 price objective (up previously from $36.00) on shares of Supernus Pharmaceuticals in a report on Tuesday, July 18th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $48.38.
Shares of Supernus Pharmaceuticals (SUPN) traded down 1.76% during mid-day trading on Thursday, reaching $41.85. 421,091 shares of the company traded hands. The stock has a market capitalization of $2.12 billion, a PE ratio of 21.12 and a beta of 1.30. The stock’s 50 day moving average is $42.84 and its 200 day moving average is $39.71. Supernus Pharmaceuticals has a 52-week low of $17.25 and a 52-week high of $50.04.
Supernus Pharmaceuticals (NASDAQ:SUPN) last posted its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Supernus Pharmaceuticals had a net margin of 41.10% and a return on equity of 30.73%. The business had revenue of $75.83 million for the quarter, compared to analyst estimates of $68.54 million. On average, analysts anticipate that Supernus Pharmaceuticals will post $1.04 earnings per share for the current year.
In other Supernus Pharmaceuticals news, SVP Padmanabh P. Bhatt sold 5,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $49.86, for a total transaction of $249,300.00. Following the transaction, the senior vice president now directly owns 12,500 shares in the company, valued at approximately $623,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory S. Patrick sold 50,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $47.60, for a total transaction of $2,380,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,709 shares of company stock worth $7,223,108. Corporate insiders own 6.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Neumeier Poma Investment Counsel LLC lifted its position in Supernus Pharmaceuticals by 1.6% during the 2nd quarter. Neumeier Poma Investment Counsel LLC now owns 890,740 shares of the specialty pharmaceutical company’s stock valued at $38,391,000 after purchasing an additional 14,430 shares during the period. Sheets Smith Wealth Management acquired a new position in Supernus Pharmaceuticals during the 2nd quarter valued at about $378,000. Royce & Associates LP lifted its position in Supernus Pharmaceuticals by 22.3% during the 2nd quarter. Royce & Associates LP now owns 159,000 shares of the specialty pharmaceutical company’s stock valued at $6,853,000 after purchasing an additional 29,000 shares during the period. Teachers Advisors LLC lifted its position in Supernus Pharmaceuticals by 6.9% during the 2nd quarter. Teachers Advisors LLC now owns 466,060 shares of the specialty pharmaceutical company’s stock valued at $20,087,000 after purchasing an additional 29,939 shares during the period. Finally, Bank of America Corp DE lifted its position in Supernus Pharmaceuticals by 10.7% during the 1st quarter. Bank of America Corp DE now owns 362,952 shares of the specialty pharmaceutical company’s stock valued at $11,361,000 after purchasing an additional 35,069 shares during the period. Institutional investors own 95.36% of the company’s stock.
About Supernus Pharmaceuticals
Supernus Pharmaceuticals, Inc is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system diseases. The Company offers Oxtellar XR (extended-release oxcarbazepine) and Trokendi XR (extended-release topiramate), its two treatments for patients with epilepsy.
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