Supernus Pharmaceuticals (NASDAQ:SUPN) Sets New 12-Month High After Analyst Upgrade

Shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) reached a new 52-week high on Wednesday after Cantor Fitzgerald raised their price target on the stock from $42.00 to $46.00. Cantor Fitzgerald currently has an overweight rating on the stock. Supernus Pharmaceuticals traded as high as $41.51 and last traded at $42.29, with a volume of 624173 shares trading hands. The stock had previously closed at $37.53.

Separately, Wall Street Zen raised Supernus Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd.

Hedge Funds Weigh In On Supernus Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SUPN. Raiffeisen Bank International AG bought a new position in shares of Supernus Pharmaceuticals in the fourth quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new position in Supernus Pharmaceuticals in the 1st quarter valued at about $30,000. Versant Capital Management Inc raised its holdings in Supernus Pharmaceuticals by 6,931.3% in the 1st quarter. Versant Capital Management Inc now owns 1,125 shares of the specialty pharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,109 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Supernus Pharmaceuticals during the first quarter worth approximately $41,000. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Supernus Pharmaceuticals during the fourth quarter worth approximately $42,000.

Supernus Pharmaceuticals Price Performance

The company has a market cap of $2.38 billion, a price-to-earnings ratio of 36.90 and a beta of 0.74. The firm has a 50-day moving average price of $33.05 and a 200 day moving average price of $33.42.

About Supernus Pharmaceuticals

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. The company's commercial products are Trokendi XR, an extended release topiramate product indicated for the treatment of epilepsy, as well as for the prophylaxis of migraine headache; and Oxtellar XR, an extended release oxcarbazepine for the monotherapy treatment of partial onset seizures in adults and children between 6 to 17 years of age.