Piper upgrades Supernus on ‘promising’ Onapgo trajectory

Piper Sandler upgraded Supernus (SUPN) to Overweight from Neutral with a price target of $65, up from $40. The firm sees a “promising trajectory” for Onapgo, the company’s apomorphine-based continuous subcutaneous infusion pump that launched in advanced Parkinson’s disease in late April. Supernus’ margin expansion and EBITDA growth will be attractive given that Onapgo is not promotion-intensive, the analyst tells investors in a research note.