Supernus Pharmaceuticals, Inc.
- Open
- 46.98
- Day high
- 47.36
- Day low
- 45.98
- Prev close
- 46.51
- Volume
- 345K
- Mkt cap
- $2.7B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.5
- P/S
- 3.5
- Yield
- —
- Per share
- —
Supernus Pharmaceuticals, Inc. (SUPN) is a Healthcare company listed on NASDAQ. The stock is up 46% over the past year.
Supernus Pharmaceuticals, Inc. (SUPN) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SUPN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.28 | $0.59 | +110.7% | $208M | +7.7% |
| Feb 24, 2026 | $0.28 | $-71.59 | -25666.3% | $212M | +8.4% |
| Nov 4, 2025 | $0.82 | $1.01 | +23.2% | $192M | -1.3% |
| Feb 27, 2024 | $0.41 | $0.02 | -95.1% | $164M | +6.0% |
| Nov 8, 2023 | $0.13 | $-0.29 | -323.1% | $154M | -0.9% |
| Feb 28, 2023 | $0.68 | $0.43 | -36.8% | $167M | -7.2% |
| Aug 4, 2022 | $0.29 | $0.14 | -51.7% | $170M | +3.6% |
| Apr 13, 2022 | $0.24 | $0.04 | -83.3% | $153M | -0.9% |
| Feb 28, 2022 | $0.24 | $0.04 | -81.3% | $159M | +7.2% |
| Nov 3, 2021 | $0.23 | $0.40 | +73.9% | $148M | +25.7% |
| Aug 4, 2021 | $0.20 | $0.43 | +115.0% | $141M | +4.8% |
| May 5, 2021 | $0.24 | $0.11 | -54.2% | $131M | +1.2% |
SUPN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 16, 2026 | Khattar Jack A.director, officer: President, CEO | Sell | 10,742 | $51.00 |
| Mar 16, 2026 | Hudson Frederick M.director | Sell | 5,369 | $50.61 |
| Mar 16, 2026 | Khattar Jack A.director, officer: President, CEO | Sell | 120 | $51.75 |
| Mar 16, 2026 | Khattar Jack A.director, officer: President, CEO | Sell | 24,138 | $50.09 |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Tax | 1,718 | $54.73 |
| Mar 10, 2026 | DEC TIMOTHY Cofficer: Senior Vice-President & CFO | Tax | 1,450 | $54.73 |
| Mar 10, 2026 | Mottola Frankofficer: SVP, Chief Tech. Ops. Officer | Option | 3,750 | — |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Sell | 4,439 | $55.00 |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Tax | 521 | $54.73 |
| Mar 10, 2026 | DEC TIMOTHY Cofficer: Senior Vice-President & CFO | Option | 3,000 | — |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Sell | 4,438 | $54.00 |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Option | 2,625 | — |
| Mar 10, 2026 | Mottola Frankofficer: SVP, Chief Tech. Ops. Officer | Sell | 1,623 | $53.65 |
| Mar 10, 2026 | Horich William Toddofficer: SVP, Commercial Operations | Tax | 1,216 | $54.73 |
| Mar 10, 2026 | Khattar Jack A.director, officer: President, CEO | Option | 38,640 | — |
Source: SUPN SEC Form 4 filings, latest Mar 16, 2026. For informational purposes only — not investment advice.
See the full SUPN insider & 13F page →Supernus Pharmaceuticals, Inc. company profile
Overview
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) is a biopharmaceutical company founded in 2005 and headquartered in Rockville, Maryland. The company went public in 2012 and specializes in developing and commercializing treatments for central nervous system (CNS) disorders. Supernus has evolved from a company dependent on legacy epilepsy medications to one focused on growth products, particularly in ADHD and Parkinson's disease treatments. The company operates primarily in the United States market and has built a portfolio of both commercial products and pipeline candidates targeting various neurological and psychiatric conditions.
Business
Supernus operates in the specialty pharmaceutical industry, focusing specifically on central nervous system (CNS) disorders. The CNS encompasses the brain and spinal cord, and disorders in this area include conditions like epilepsy, ADHD, Parkinson's disease, depression, and various movement disorders. The pharmaceutical treatment of CNS conditions is particularly challenging because medications must cross the blood-brain barrier and often require specialized formulations to achieve optimal therapeutic effects. The company's business is organized around several key commercial products and pipeline candidates: Core Growth Products (approximately 67% of revenue): 1. **Qelbree** - A selective norepinephrine reuptake inhibitor for treating ADHD in both pediatric (ages 6-17) and adult patients. Unlike traditional stimulant medications commonly used for ADHD, Qelbree works through a different mechanism and is not a controlled substance, making it an important non-stimulant option for patients who cannot tolerate or do not respond well to stimulants. 2. **GOCOVRI** - An extended-release formulation of amantadine used to treat dyskinesia (involuntary movements) in patients with Parkinson's disease. Dyskinesia is a common and debilitating side effect of long-term levodopa treatment in Parkinson's patients. Legacy Epilepsy Products (declining revenue share): 3. **Trokendi XR** - An extended-release formulation of topiramate for treating epilepsy and preventing migraine headaches. This product has faced significant generic competition. 4. **Oxtellar XR** - An extended-release formulation of oxcarbazepine for treating partial onset epilepsy seizures in adults and children. Other Commercial Products: The company also markets several other CNS medications including APOKYN, XADAGO, MYOBLOC, and Osmolex ER for various Parkinson's disease symptoms and movement disorders. Recently, the company launched **ONAPGO**, a subcutaneous apomorphine infusion device for Parkinson's disease patients experiencing "off" episodes.
Revenue model
Supernus generates revenue primarily through product sales to pharmaceutical wholesalers, specialty pharmacies, and distributors, who then supply the medications to retail pharmacies and healthcare providers. The company operates under a traditional pharmaceutical business model where it develops, manufactures, and commercializes proprietary medications. The company's revenue streams include both branded specialty pharmaceuticals and extended-release formulations of existing drugs. For fiscal 2024, total revenue was $662 million, with Qelbree contributing approximately $255 million and GOCOVRI adding $133 million. The business model benefits from patent protection on its key products, allowing for premium pricing during the exclusivity period. Key factors that can increase margins include successful market penetration of growth products like Qelbree, which commands higher pricing due to its novel mechanism and non-controlled substance status. The adult ADHD market represents a particularly lucrative opportunity, as adult prescriptions typically generate higher per-prescription revenue ($615 versus $525 for pediatric prescriptions). Price increases on existing products and improved gross-to-net ratios (currently around 45-50% for Qelbree) also contribute to margin expansion. Factors that pressure margins include generic competition for legacy products like Trokendi XR, which experienced a 90% revenue erosion following generic entry. Increasing rebates and discounts to payers and pharmacy benefit managers also compress net pricing. The company faces ongoing pressure from managed care organizations seeking formulary concessions, and the competitive landscape in CNS therapeutics requires substantial marketing and sales investments to maintain market share. The company's profitability is also influenced by its significant research and development investments in pipeline products, with multiple Phase II and Phase III clinical trials ongoing. Regulatory approval timelines and clinical trial outcomes significantly impact the company's growth trajectory and margin profile.
Competitive moat
Supernus possesses a moderate competitive moat primarily built around patent protection, regulatory barriers, and specialized CNS expertise, though this moat faces several vulnerabilities. The company's strongest moat elements include patent exclusivity on key products like Qelbree, which provides protection until the late 2020s, and the complex regulatory pathway for CNS medications that creates barriers to entry. Qelbree's unique positioning as a non-stimulant ADHD treatment with a novel mechanism of action provides some differentiation in a market dominated by controlled stimulant medications. The company has also built specialized sales force expertise in CNS therapeutics and established relationships with neurologists, psychiatrists, and other specialists. However, the moat has significant limitations. The pharmaceutical industry is inherently vulnerable to patent cliffs, as demonstrated by Trokendi XR's dramatic revenue decline following generic competition. Supernus lacks the scale and diversification of larger pharmaceutical companies, making it heavily dependent on a small number of products. The CNS therapeutic market is highly competitive, with major pharmaceutical companies and biotechnology firms developing competing treatments. The company's pipeline, while promising, carries substantial execution risk. Clinical trials can fail, as recently demonstrated by the SPN-820 depression treatment not meeting its primary endpoints. Additionally, the company faces competitive threats from both traditional pharmaceutical companies and emerging biotechnology firms developing novel CNS therapies. The regulatory environment for CNS medications is complex but not insurmountable for well-funded competitors. Large pharmaceutical companies with greater resources could potentially develop competing products or acquire promising CNS assets, potentially challenging Supernus's market position. The company's moat is therefore time-limited and dependent on successful execution of its pipeline and continued commercial success of its growth products.
Risks & safety
Supernus demonstrates a strong financial safety profile with minimal solvency risk and conservative capital structure. **Cash and Debt Position:** - Cash and short-term investments: $116 million (Q1 2025) - Total cash and securities: $464 million - Debt-to-equity ratio: 0.031 (minimal debt) - Strong free cash flow generation: $30 million (Q1 2025), $171 million (FY 2024) **Liquidity Metrics:** - Current ratio: 2.44 (strong) - Quick ratio: 2.26 (excellent) - Operating cash flow consistently positive **Valuation Metrics:** - EV/EBITDA: 24.5x (Q1 2025) - elevated due to recent quarter - P/E ratio: 27.0x (FY 2024) - Price-to-book: 1.78x - Graham net-net: 5.03 (strong asset backing) **Other Considerations:** - No significant debt burden or refinancing risk - Diversified revenue base reducing single-product dependency - Strong balance sheet provides flexibility for business development - Patent cliff risk on legacy products partially offset by growth products
Recent development
Over the past few years, Supernus has executed a strategic transformation from a company dependent on legacy epilepsy medications to one focused on growth products in ADHD and Parkinson's disease. The most significant development has been the rapid growth of Qelbree, which achieved 72% annual net sales growth in 2024 and reached $255 million in annual revenue. The company successfully expanded Qelbree's market penetration, growing the prescriber base to over 34,000 physicians and achieving record monthly prescriptions of 75,277 by March 2025. The company has diversified its portfolio through strategic acquisitions and partnerships, adding multiple Parkinson's disease treatments including GOCOVRI, APOKYN, XADAGO, and MYOBLOC. Most recently, Supernus launched ONAPGO in 2025, a subcutaneous apomorphine infusion device for Parkinson's patients, representing the company's entry into device-based therapies. Pipeline development has been mixed but active. The company advanced SPN-817 into Phase IIb trials for treatment-resistant epilepsy after showing promising Phase IIa results with 56% median seizure reduction. However, SPN-820 for treatment-resistant depression failed to meet primary endpoints in its Phase IIb study, though the company continues to analyze the data for potential next steps. The company has also initiated development of SPN-443, a new ADHD product candidate, completing pharmacokinetic studies. Strategically, Supernus has built substantial financial resources with over $460 million in cash and securities, positioning the company for business development opportunities. Management has indicated willingness to pursue acquisitions in the $500 million to $1.5 billion range, focusing on commercial-stage CNS products or late-stage pipeline assets. The company has also expanded its commercial capabilities, adding sales representatives and enhancing its market presence in both ADHD and movement disorders.
SUPN company profile · for informational purposes only — not investment advice.
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