Cantor Fitzgerald analyst Matthew Lillis reiterated a Buy rating on Supernus Pharmaceuticals (SUPN) yesterday and set a price target of $60. The company’s shares closed yesterday at $35.06, close to its 52-week low of $30.05.
Lillis commented:
“: We reiterate our Overweight rating and $60 PT to $60 for SUPN stock. the company hosted an investor meeting that highlighted progress, plans, and potential for the company’s psychiatry pipeline. With SPN-812’s profile well established, we expect investors to focus on payer and logistics aspects of the expected forthcoming launch, as well as the SPN-810 opportunity ahead of Phase 3 data expected mid-year. The company also plans to begin the SPN-604 clinical program this year, eyeing a possible 2022 NDA filing. We believe these and other catalysts, for example ample cash for BD, position the company well for the long term and could drive investor enthusiasm.”
According to TipRanks.com, Lillis is a 3-star analyst with an average return of 4.4% and a 53.8% success rate. Lillis covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Evofem Biosciences Inc, and Amag Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Supernus Pharmaceuticals with a $60.20 average price target, implying a 71.7% upside from current levels. In a report issued on April 11, Jefferies also maintained a Buy rating on the stock with a $58 price target.
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The company has a one-year high of $61.25 and a one-year low of $30.05. Currently, Supernus Pharmaceuticals has an average volume of 566.5K.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SUPN in relation to earlier this year. Last month, John Siebert, a Director at SUPN bought 16,179 shares for a total of $137,806.
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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 XR, which treats patients with epilepsy.
