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In a report released yesterday, David Buck from B.Riley FBR reiterated a Buy rating on Supernus Pharmaceuticals (NASDAQ: SUPN), with a price target of $54. The company’s shares opened today at $48.30, close to its 52-week high of $50.30.
Buck wrote:
“We reiterate our Buy rating on Supernus Pharmaceuticals (SUPN, $54 PT), which reported 1Q18 results AMC on the takeaway headline EPS of $0.49, well above our $0.26 and FactSet’s $0.33. The quarter did feature ~$4.9M in lower operating expenses versus our model, which aided EPS by about $0.08, and a tax rate of 15.5% was well below our 24% model and FactSet at 19.3%, aiding EPS by about $0.05. Excluding these items, 1Q18 EPS would have been ~$0.36, still above our estimate and consensus. The full-year 2018 outlook is unchanged with guidance for product sales of $375M–$400M, R&D expenses of ~$80M, and operating earnings in the range of $125M–$135M. Finally, the full-year tax rate should be 23%– 25%.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 11.1% and a 71.9% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Spectrum Pharmaceuticals, and Amag Pharmaceuticals.
Currently, the analyst consensus on Supernus Pharmaceuticals is Strong Buy and the average price target is $51.25, representing a 6.1% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $55 price target.
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The company has a one-year high of $50.30 and a one-year low of $32. Currently, Supernus Pharmaceuticals has an average volume of 627.3K.
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Supernus Pharmaceuticals, Inc. engages in the development and commercialization of products for the treatment of central nervous system diseases. Its neurology portfolio consists of Oxtellar XR and Trokendi, which treats patients with epilepsy.
