Piper survey shows ‘continued brisk expansion’ of Qelbree

Piper Sandler analyst David Amsellem reiterates an Overweight rating on Supernus Pharmaceuticals with a $45 price target after conducting a survey of 25 psychiatrists who manage significant numbers of adult patients with ADHD. The feedback suggests that psychiatrists not only view Supernus’ Qelbree as a more reliable non-stimulant option relative to Strattera, but also view the product as a useful alternative to stimulants, the analyst tells investors in a research note. The firm says the survey points to "continued brisk expansion of the Qelbree volume footprint." It continues to believe that Qelbree peak U.S. sales potential approaching $500M are realistic. Piper views Supernus’ risk/reward profile as attractive at current share levels.