Piper Sandler analyst David Amsellem last night downgraded Supernus Pharmaceuticals to Neutral from Overweight with a price target of $36, down from $41. The firm says the sizable uptick in prescription growth for Qelbree that it expected amid the back-to-school season “has not quite come to pass.” The year-to-date annual growth rate of 25% versus 2023 for Qelbree compare to annual growth of 91% in 2023 versus 2022, the analyst tells investors in a research note. Piper cites a more muted growth trajectory than anticipated for the downgrade.
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