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Supernus Pharmaceuticals (SUPN)
NASDAQ:SUPN
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Supernus Pharmaceuticals
(NASDAQ:SUPN)
Rating:71Outperform
Price Target:
$37.00
▲(12.63%Upside)
Positive Factors
Market Opportunity
The FDA has approved Onapgo (SC apomorphine pump) to treat OFF episodes in Parkinson's disease.
Sales Performance
Qelbree solidly exceeded expectations, with $74.4MM in Q4 sales, reflecting solid demand.
Stock Price Target
The price target for Supernus Pharmaceuticals has been raised from $44.00 to $45.00, indicating a positive outlook.
Negative Factors
Clinical Trial Analysis
The trial for SPN-820 is on 'pause' as the company continues to analyze more data from the study.
Clinical Trial Results
Disappointing Phase 2b data from SPN-820 in treatment-resistant patients led to a downgrade of the stock rating.
Supernus Pharmaceuticals (SUPN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.85B
Dividend YieldN/A
Average Volume (3M)749.16K
Price to Earnings (P/E)29.9
Beta (1Y)0.60
Revenue Growth11.82%
EPS GrowthN/A
CountryUS
Employees674
SectorHealthcare
Sector Strength37
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.44
Shares Outstanding55,989,624
10 Day Avg. Volume754,124
30 Day Avg. Volume749,160
Financial Highlights & Ratios
PEG Ratio-1.92
Price to Book (P/B)1.81
Price to Sales (P/S)0.00
P/FCF Ratio11.45
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue0.69
Enterprise Value/Gross Profit3.38
Enterprise Value/Ebitda2.89
Forecast
1Y Price Target
$39.00Price Target Upside18.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Supernus Pharmaceuticals Business Overview & Revenue Model
Company DescriptionSupernus Pharmaceuticals, Inc. (SUPN) is a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The company's core products include treatments for neurological disorders such as epilepsy and migraines. Supernus leverages its proprietary technology platforms and expertise in drug formulation to enhance the therapeutic benefits of its products, aiming to improve the lives of patients with CNS conditions.
How the Company Makes MoneySupernus Pharmaceuticals primarily generates revenue through the sales of its pharmaceutical products. The company's key revenue streams include product sales from its portfolio of CNS-related therapies, which are marketed directly to healthcare providers and sold through various distribution channels. Supernus also engages in strategic partnerships and collaborations with other pharmaceutical companies to expand its market reach and enhance its product offerings. Additionally, the company may receive milestone payments and royalties from licensing agreements related to its proprietary drug formulations and technologies. These combined efforts contribute to Supernus's earnings and financial growth.
Supernus Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: 1.30%|
Next Earnings Date:Aug 05, 2025
Earnings Call Sentiment Neutral
Supernus Pharmaceuticals demonstrated strong growth in core products Qelbree and GOCOVRI, introduced a promising new product ONAPGO, and maintained a solid cash position. However, these positives were offset by significant declines in legacy products and an increased operating loss, resulting in an overall net loss for the quarter.Q1-2025 Updates
Positive Updates
Double-Digit Revenue Growth
Total revenues, excluding Trokendi XR and Oxtellar XR, increased by 26% in the first quarter compared to the same quarter last year.
Qelbree Performance
Qelbree grew by 22% in prescriptions and by 44% in net sales. Monthly prescriptions in March reached an all-time high of 75,277, up 25% compared to the same period last year.
GOCOVRI Growth
Prescriptions for GOCOVRI increased by 12% and net sales increased by 16% compared to the same quarter last year, with Medicare prescriptions costing patients less than $25 for 84% of prescriptions.
Launch of ONAPGO
Launched ONAPGO, a new growth product for Parkinson's disease, with initial positive response from physicians and more than 75% of sales territories generating patient enrollment forms.
Strong Cash Position
The company had approximately $463.6 million in cash, cash equivalents, and marketable securities, maintaining a strong balance sheet.
Negative Updates
Legacy Products Decline
Combined net sales of Trokendi XR and Oxtellar XR were down 46% for the first quarter, with expected further erosion in sales.
Operating Loss
Operating loss on a GAAP basis for the first quarter of 2025 was $10.3 million, compared to an operating loss of $3.2 million for the prior year period, largely due to higher contingent consideration loss.
GAAP Net Loss
GAAP net loss was $11.8 million for the first quarter of 2025, compared to net earnings of $124,000 in the prior year quarter.
Company Guidance
During Supernus Pharmaceuticals' first quarter 2025 financial results conference call, guidance was reiterated for the full year, projecting total revenues to range from $600 million to $630 million, driven primarily by net product sales and royalty revenue. The company maintained its estimates for combined R&D and SG&A expenses to be between $435 million and $460 million. Non-GAAP operating earnings are expected to range from $105 million to $130 million, while GAAP operating earnings are projected to vary from a $15 million loss to a $10 million profit. The call highlighted a 26% increase in total revenues, excluding legacy products Trokendi XR and Oxtellar XR, due to the strong performance of Qelbree and GOCOVRI. Qelbree saw a 22% rise in prescriptions and a 44% jump in net sales, while GOCOVRI experienced a 12% increase in prescriptions and 16% growth in net sales. For the remainder of 2025, combined net sales of Trokendi XR and Oxtellar XR are expected to decrease, with guidance maintained at $65 million to $75 million. Supernus also launched ONAPGO, a subcutaneous apomorphine infusion device for Parkinson's disease, which received encouraging initial feedback from physicians.Supernus Pharmaceuticals Financial Statement Overview
Summary
Supernus Pharmaceuticals demonstrates a strong financial position with robust margins and a solid equity base. The company maintains low leverage, reducing financial risk while ensuring ample liquidity. Despite moderate revenue growth, stable cash flows and efficient cost management underscore its operational resilience. Opportunities exist to enhance shareholder returns through improved net income generation.Income Statement
Supernus Pharmaceuticals demonstrated a solid gross profit margin of 79.5% in the TTM, indicating strong cost management. The net profit margin of 9.3% suggests reasonable profitability, despite a slight decline from the previous year. Revenue growth is relatively modest, reflecting stable but limited expansion opportunities. EBITDA margin is healthy at 25.0%, supporting operational efficiency.76
Positive
Balance Sheet
The company exhibits a robust equity position with an equity ratio of 76.5% in the TTM, highlighting financial stability. The debt-to-equity ratio is low at 0.03, indicating minimal leverage and reduced financial risk. Return on equity is moderate at 6.0%, suggesting room for improvement in generating returns for shareholders.82
Very Positive
Cash Flow
Operating cash flow remains strong with an operating cash flow to net income ratio of 2.65, indicating efficient cash generation relative to income. Free cash flow growth has been stable, supporting potential reinvestment or shareholder returns. However, the free cash flow to net income ratio of 2.64 suggests a balanced but not overly aggressive cash deployment strategy.79
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 661.82M | 607.52M | 667.24M | 579.77M | 520.40M |
| Gross Profit | 583.91M | 523.74M | 580.02M | 504.71M | 467.94M |
| EBITDA | 178.28M | 90.04M | 153.44M | 129.19M | 212.40M |
| Net Income | 73.86M | 1.32M | 60.71M | 53.42M | 126.95M |
Balance Sheet | |||||
| Total Assets | 1.37B | 1.28B | 1.70B | 1.69B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 453.61M | 254.87M | 461.33M | 339.68M | 422.53M |
| Total Debt | 34.27M | 41.53M | 437.97M | 420.55M | 390.33M |
| Total Liabilities | 332.34M | 356.16M | 816.30M | 873.30M | 759.24M |
| Stockholders Equity | 1.04B | 921.52M | 886.20M | 815.85M | 744.86M |
Cash Flow | |||||
| Free Cash Flow | 171.23M | 110.53M | 116.41M | 125.08M | 134.95M |
| Operating Cash Flow | 171.95M | 111.08M | 116.83M | 127.13M | 138.40M |
| Investing Cash Flow | -189.87M | 268.73M | -216.66M | -81.91M | -34.70M |
| Financing Cash Flow | 12.19M | -397.88M | -10.48M | -130.42M | 3.56M |
Supernus Pharmaceuticals Technical Analysis
Positive
32.85
Price Trends
32.46
Positive
32.18
Positive
34.14
Negative
Market Momentum
0.22
Negative
51.79
Neutral
28.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SUPN, the sentiment is Positive. The current price of 32.85 is above the 20-day moving average (MA) of 32.54, above the 50-day MA of 32.46, and below the 200-day MA of 34.14, indicating a neutral trend. The MACD of 0.22 indicates Negative momentum. The RSI at 51.79 is Neutral, neither overbought nor oversold. The STOCH value of 28.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SUPN.
Supernus Pharmaceuticals Risk Analysis
Supernus Pharmaceuticals disclosed 56 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
Overall Rating
UnderperformOutperform
Sector (46)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $1.45B | ― | -5.19% | ― | 30.26% | -173.36% | |
71 Outperform | $1.85B | 29.85 | 6.32% | ― | 11.82% | ― | |
68 Neutral | $1.06B | 8.17 | 19.90% | ― | 8.05% | -8.46% | |
56 Neutral | $2.51B | ― | 106.97% | ― | 13.42% | 92.50% | |
53 Neutral | $1.34B | 64.45 | -10.45% | ― | 24.76% | -783.38% | |
46 Neutral | C$201.68M | -3.28 | -23.14% | 1.87% | 20.75% | -0.36% | |
43 Neutral | $1.42B | ― | -20.41% | ― | 0.45% | -125.61% |
* Healthcare Sector Average
Performance Comparison
SUPN
Supernus Pharmaceuticals
32.85
2.10
6.83%
DVAX
Dynavax
11.16
-0.45
-3.88%
ANIP
ANI Pharmaceuticals
66.77
3.52
5.57%
AMPH
Amphastar Pharmaceuticals
22.51
-19.97
-47.01%
EVO
Evotec AG
4.05
-0.73
-15.27%
AMRX
Amneal Pharmaceuticals
8.00
0.56
7.53%
Supernus Pharmaceuticals Corporate Events
Executive/Board ChangesShareholder Meetings
Supernus Pharmaceuticals Holds Annual Stockholders Meeting
Neutral
Jun 17, 2025
On June 16, 2025, Supernus Pharmaceuticals held its annual stockholders meeting, where key decisions were made regarding the election of directors, executive compensation, and the appointment of KPMG LLP as the independent public accounting firm for 2025. These decisions are expected to influence the company’s governance and financial oversight, impacting its strategic direction and stakeholder confidence.
The most recent analyst rating on (SUPN) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Supernus Pharmaceuticals stock, see the SUPN Stock Forecast page.
M&A Transactions
Supernus Pharmaceuticals to Acquire Sage Therapeutics
Positive
Jun 16, 2025
On June 13, 2025, Supernus Pharmaceuticals announced a definitive agreement to acquire Sage Therapeutics through a tender offer valued at approximately $795 million. This acquisition is expected to enhance Supernus’ neuropsychiatry product portfolio with the addition of ZURZUVAE, an FDA-approved treatment for postpartum depression, and is anticipated to be significantly accretive by 2026, with potential cost synergies of up to $200 million annually.
The most recent analyst rating on (SUPN) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Supernus Pharmaceuticals stock, see the SUPN Stock Forecast page.
Legal ProceedingsBusiness Operations and Strategy
Supernus Pharmaceuticals Faces Patent Challenges for Qelbree
Negative
May 28, 2025
On May 22 and 23, 2025, Supernus Pharmaceuticals received Paragraph IV Notice Letters indicating that third parties filed Abbreviated New Drug Applications (ANDAs) for viloxazine hydrochloride capsules, challenging the patents of their product Qelbree. Supernus plans to enforce its intellectual property rights, which are protected by six U.S. patents expiring between 2029 and 2035, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (SUPN) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Supernus Pharmaceuticals stock, see the SUPN Stock Forecast page.
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.