Supernus Pharmaceuticals (SUPN)
NASDAQ:SUPN
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Supernus Pharmaceuticals
(NASDAQ:SUPN)
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Rating:63Neutral
Price Target:
$51.00
▼(-0.76% Downside)
Action:Reiterated
Date:05/21/26
The score is driven mainly by solid financial strength (low leverage and positive/free cash flow) and a constructive earnings-call outlook with reiterated guidance and strong revenue momentum. These are tempered by weak technical momentum, loss-driven valuation limitations (negative P/E), and execution risks tied to elevated expenses and supply/regulatory timelines.
Positive Factors
Conservative balance sheet and liquidity
A very strong liquidity position and zero debt provide durable financial flexibility to fund R&D, support commercialization, meet milestone payments (e.g., CVR), and absorb setbacks without immediate refinancing. This reduces solvency risk and enables strategic optionality over the next 2–6 months and beyond.
Negative Factors
GAAP profitability deterioration
A shift from positive earnings to GAAP losses signals recurring cost or non-operational pressures that could persist. Sustained GAAP losses erode retained earnings and ROE, constrain reinvestment capacity, and increase sensitivity to cash generation and external financing over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet and liquidity
A very strong liquidity position and zero debt provide durable financial flexibility to fund R&D, support commercialization, meet milestone payments (e.g., CVR), and absorb setbacks without immediate refinancing. This reduces solvency risk and enables strategic optionality over the next 2–6 months and beyond.
Read all positive factors
Supernus Pharmaceuticals Key Performance Indicators (KPIs)
Any
Net Sales by Product
Breaks down revenue by individual drugs and therapies, revealing which products drive Supernus’s topline and how concentrated its sales are. Heavy reliance on a few CNS products raises vulnerability to patent expirations, generic entry, or pricing pressure, while rising sales from recent launches or label expansions signal successful commercialization and potential for sustainable growth. Also highlights whether R&D and marketing investments are translating into real, repeatable revenue streams.
Breaks down revenue by individual drugs and therapies, revealing which products drive Supernus’s topline and how concentrated its sales are. Heavy reliance on a few CNS products raises vulnerability to patent expirations, generic entry, or pricing pressure, while rising sales from recent launches or label expansions signal successful commercialization and potential for sustainable growth. Also highlights whether R&D and marketing investments are translating into real, repeatable revenue streams.
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The Fly
The FlySupernus Pharmaceuticals (SUPN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.80B
Dividend YieldN/A
Average Volume (3M)672.28K
Price to Earnings (P/E)―
Beta (1Y)0.57
Revenue Growth16.29%
EPS Growth-145.12%
CountryUS
Employees674
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.51
Shares Outstanding58,039,722
10 Day Avg. Volume587,267
30 Day Avg. Volume672,282
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)2.64
Price to Sales (P/S)3.90
P/FCF Ratio61.00
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue3.42
Enterprise Value/Gross Profit3.82
Enterprise Value/Ebitda61.09
Forecast
1Y Price Target
$63.17Price Target Upside22.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)2.48
Revenue Forecast (FY)$864.38M
Supernus Pharmaceuticals Business Overview & Revenue Model
Company Description
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. Its commercial products are Trokendi XR, an ...
How the Company Makes Money
Supernus primarily makes money by selling its branded prescription medicines in the United States, with revenue recognized based on product shipments to its customers (e.g., wholesalers and specialty pharmacies), net of estimated rebates, discount...
Supernus Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum across multiple products with robust revenue growth (total revenue +39% YoY; growth products +56% YoY), improving non-GAAP profitability, a healthy cash position (~$384M) and an advancing R&D pipeline. Offsetting these positives are meaningful increases in operating expenses (combined R&D and SG&A up ~40.8% YoY), ongoing GAAP losses (albeit reduced), supply constraints and conversion challenges for Onepco, and timing / regulatory risk related to bringing a second supplier online. Management reiterated full-year guidance ranges and emphasized continued focus on corporate development and supply backups. Overall, the positive top-line growth, improved profitability metrics, strong product-specific trends and solid balance sheet outweigh the near-term expense and supply risks.Positive Updates
Strong Overall Revenue Growth
Total revenue of $207.7 million in Q1 2026, up 39% year-over-year. Combined revenues of growth products increased 56% year-over-year. Revenues from commercial products were $178 million, up 26% year-over-year.
Negative Updates
Significant Increase in Operating Expenses
Combined R&D and SG&A expenses were $164.6 million in Q1 2026 versus $116.9 million in Q1 2025, an increase of approximately $47.7 million (≈40.8%), driven primarily by higher SG&A related to the Biogen collaboration. Full-year guidance expects combined R&D and SG&A of $620–$650 million, indicating sustained elevated spending.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Overall Revenue Growth
Total revenue of $207.7 million in Q1 2026, up 39% year-over-year. Combined revenues of growth products increased 56% year-over-year. Revenues from commercial products were $178 million, up 26% year-over-year.
Read all positive updates
Company Guidance
Supernus reiterated full‑year 2026 guidance expecting total revenues of $840–$870 million, combined R&D and SG&A of $620–$650 million, full‑year operating earnings of $0–$30 million and non‑GAAP operating earnings of $140–$170 million; management also signaled program timelines with an expected FDA submission for the second Onapro supplier in Q3 2026 and potential approval before mid‑2027, plans to initiate a Phase 1 study for SPN‑443 in 2026, and reported approximately $384 million in cash, cash equivalents and marketable securities as of 03/31/2026 with no debt.Supernus Pharmaceuticals Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 776.83M | 718.95M | 661.82M | 607.52M | 667.24M | 579.77M |
| Gross Profit | 694.64M | 644.39M | 583.91M | 523.74M | 580.02M | 504.71M |
| EBITDA | 43.45M | 42.53M | 178.28M | 90.04M | 153.36M | 129.19M |
| Net Income | -29.02M | -38.55M | 73.86M | 1.32M | 60.71M | 53.42M |
Balance Sheet | ||||||
| Total Assets | 1.50B | 1.45B | 1.37B | 1.28B | 1.70B | 1.69B |
| Cash, Cash Equivalents and Short-Term Investments | 384.24M | 308.67M | 453.61M | 254.87M | 461.33M | 339.68M |
| Total Debt | 40.90M | 40.98M | 34.27M | 41.53M | 444.76M | 427.03M |
| Total Liabilities | 423.92M | 390.93M | 332.34M | 356.16M | 816.30M | 873.30M |
| Stockholders Equity | 1.08B | 1.06B | 1.04B | 921.52M | 886.20M | 815.85M |
Cash Flow | ||||||
| Free Cash Flow | 82.25M | 45.99M | 171.23M | 110.53M | 116.41M | 125.08M |
| Operating Cash Flow | 83.26M | 47.33M | 171.95M | 111.08M | 116.83M | 127.13M |
| Investing Cash Flow | -52.43M | 4.11M | -189.87M | 268.73M | -216.66M | -81.91M |
| Financing Cash Flow | 39.64M | 9.13M | 12.19M | -397.88M | -10.48M | -130.42M |
Supernus Pharmaceuticals Technical Analysis
Negative
51.39
Price Trends
49.86
Negative
50.52
Negative
48.86
Negative
Market Momentum
-0.48
Positive
42.30
Neutral
19.96
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SUPN, the sentiment is Negative. The current price of 51.39 is above the 20-day moving average (MA) of 49.40, above the 50-day MA of 49.86, and above the 200-day MA of 48.86, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 42.30 is Neutral, neither overbought nor oversold. The STOCH value of 19.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SUPN.
Supernus Pharmaceuticals Risk Analysis
Supernus Pharmaceuticals disclosed 60 risk factors in its most recent earnings report. Supernus Pharmaceuticals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Supernus Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $1.88B | 13.63 | 17.32% | ― | 37.03% | ― | |
64 Neutral | $811.75M | 34.57 | 10.23% | ― | -1.39% | -41.70% | |
63 Neutral | $2.80B | -324.88 | -2.73% | ― | 16.29% | -145.12% | |
52 Neutral | $1.55B | -0.83 | -50.65% | 8.48% | -3.62% | -932.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
44 Neutral | $1.04B | 274.97 | 35.22% | ― | -4.47% | -178.26% |
* Healthcare Sector Average
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Supernus Pharmaceuticals Corporate Events
Business Operations and Strategy
Supernus Reaches Milestone, Triggers Contingent Value Rights Payment
Positive
May 20, 2026
On May 17, 2026, Supernus Pharmaceuticals notified its rights agent that Milestone 1 under its Contingent Value Right Agreement, originally executed on July 30, 2025, had been achieved on March 18, 2026. As a result, the company is obligated to ma...
Business Operations and StrategyM&A Transactions
Supernus Acquires NV-5138 Asset in New Agreement
Positive
Apr 7, 2026
On April 1, 2026, Supernus Pharmaceuticals entered into an asset purchase agreement with Navitor Pharmaceuticals and its parent to acquire all rights, title, and interest in assets related to the compound NV-5138, or SPN-820, including intellectua...
Executive/Board Changes
Supernus boosts executive pay with new equity incentives
Positive
Feb 24, 2026
On February 18, 2026, Supernus Pharmaceuticals’ board approved Compensation Committee recommendations to raise base salaries and grant equity awards to its top executives, effective January 1, 2026, following an annual compensation review be...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.