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Supernus Pharmaceuticals (SUPN)
:SUPN
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Supernus Pharmaceuticals
(NASDAQ:SUPN)64Neutral
Positive Factors
Market Adoption
Qelbree's distinct mechanism of action and high response rates are expected to lead to broader adoption.
Sales Performance
Qelbree solidly exceeded expectations, with $74.4MM in Q4 sales, reflecting solid demand.
Negative Factors
Clinical Trial Challenges
Disappointing Phase 2b data from SPN-820 in treatment-resistant patients led to a downgrade of the stock rating.
Supernus Pharmaceuticals (SUPN) vs. S&P 500 (SPY)
Market Cap
$1.79B
Dividend YieldN/A
Average Volume (3M)602.64K
Price to Earnings (P/E)24.3
Beta (1Y)0.90
Revenue Growth8.94%
EPS Growth5171.26%
CountryUS
Employees652
SectorHealthcare
Sector Strength74
IndustryPharmaceuticals
Share Statistics
EPS (TTM)1.32
Shares Outstanding55,814,495
10 Day Avg. Volume816,666
30 Day Avg. Volume602,642
Financial Highlights & Ratios
PEG Ratio0.00470
Price to Book (P/B)N/A
Price to Sales (P/S)2.70
Price to Cash Flow (P/CF)10.10
P/FCF Ratio10.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$38.80Price Target Upside20.99% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
Supernus Pharmaceuticals Business Overview & Revenue Model
Company DescriptionSupernus Pharmaceuticals, Inc. is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. The company is dedicated to improving the lives of patients through innovative therapies primarily targeting epilepsy, migraine, and Parkinson's disease. Supernus has a robust portfolio of proprietary and partnered products that address areas of significant unmet medical needs.
How the Company Makes MoneySupernus Pharmaceuticals generates revenue through the sale of its pharmaceutical products. The company focuses on branded prescription medications within the CNS therapeutic area. Key revenue streams include sales from its proprietary products, such as Trokendi XR, an extended-release topiramate for epilepsy and migraine prevention, and Oxtellar XR, an extended-release oxcarbazepine for epilepsy. Additionally, the company benefits from partnerships and licensing agreements, which may include milestone payments and royalties from partnered products. Supernus invests significantly in R&D to expand its product pipeline, aiming to drive future growth and maintain its competitive position in the CNS market.
Supernus Pharmaceuticals Financial Statement Overview
Summary
Supernus Pharmaceuticals demonstrates solid financial health with consistent revenue growth, improved profitability, and strong cash flow management. The balance sheet reflects financial stability with reduced leverage and strong equity positioning. While the cash flow indicates effective cash generation, the substantial negative investing cash flow warrants monitoring.Income Statement
Supernus Pharmaceuticals exhibits a strong gross profit margin and significant improvement in net income over the past year. The revenue growth rate from 2023 to 2024 is approximately 8.9%, indicating healthy top-line expansion. The EBIT margin has improved substantially from a negative in 2023 to a positive in 2024, showing enhanced operational efficiency. However, the EBITDA margin is not available for the latest year, which slightly limits the analysis.75
Positive
Balance Sheet
The company maintains a robust equity position with a high equity ratio of about 75.7%, indicating strong financial stability. The debt-to-equity ratio has improved significantly over the years, reflecting reduced financial leverage. Return on Equity (ROE) is healthy at 7.1%, showcasing effective utilization of shareholder equity to generate profits.82
Very Positive
Cash Flow
Operating cash flow has increased, showing positive cash generation capabilities. The free cash flow growth rate is strong, and the free cash flow to net income ratio demonstrates efficient conversion of profits into cash flow. However, the company experienced a significant negative investing cash flow, which could indicate heavy investments or acquisitions.78
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 661.82M | 607.52M | 667.24M | 579.77M | 520.40M | Gross Profit |
| 583.91M | 523.74M | 580.02M | 504.71M | 467.94M | EBIT |
| 81.67M | -5.27M | 67.30M | 86.03M | 173.70M | EBITDA |
| 178.28M | 90.04M | 153.44M | 129.19M | 212.40M | Net Income Common Stockholders |
| 73.86M | 1.32M | 60.71M | 53.42M | 126.95M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 453.61M | 254.87M | 461.33M | 339.68M | 422.53M | Total Assets |
| 1.37B | 1.28B | 1.70B | 1.69B | 1.50B | Total Debt |
| 34.27M | 41.53M | 437.97M | 420.55M | 390.33M | Net Debt |
| -35.06M | -33.53M | 344.85M | 217.12M | 101.69M | Total Liabilities |
| 332.34M | 356.16M | 816.30M | 873.30M | 759.24M | Stockholders Equity |
| 1.04B | 921.52M | 886.20M | 815.85M | 744.86M |
| Cash Flow | Free Cash Flow | |||
| 171.23M | 110.53M | 116.41M | 125.08M | 134.95M | Operating Cash Flow |
| 171.95M | 111.08M | 116.83M | 127.13M | 138.40M | Investing Cash Flow |
| -189.87M | 268.73M | -216.66M | -81.91M | -34.70M | Financing Cash Flow |
| 12.19M | -397.88M | -10.48M | -130.42M | 3.56M |
Supernus Pharmaceuticals Technical Analysis
Negative
32.07
Price Trends
36.52
Negative
36.07
Negative
33.11
Negative
Market Momentum
-1.54
Positive
40.02
Neutral
50.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SUPN, the sentiment is Negative. The current price of 32.07 is below the 20-day moving average (MA) of 34.42, below the 50-day MA of 36.52, and below the 200-day MA of 33.11, indicating a bearish trend. The MACD of -1.54 indicates Positive momentum. The RSI at 40.02 is Neutral, neither overbought nor oversold. The STOCH value of 50.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SUPN.
Supernus Pharmaceuticals Risk Analysis
Supernus Pharmaceuticals disclosed 58 risk factors in its most recent earnings report. Supernus Pharmaceuticals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Supernus Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $8.43B | 15.87 | 14.31% | ― | 6.12% | 38.88% | |
79 Outperform | $2.93B | 12.91 | 38.89% | ― | 31.85% | ― | |
68 Neutral | $11.27B | 34.35 | 14.16% | ― | 24.81% | 33.67% | |
64 Neutral | $1.79B | 24.33 | 7.55% | ― | 8.94% | 5171.26% | |
58 Neutral | $364.07M | ― | 40.36% | ― | 13.57% | 89.73% | |
51 Neutral | $5.96B | ― | -231.63% | ― | 42.53% | -15.29% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% |
* Healthcare Sector Average
Performance Comparison
SUPN
Supernus Pharmaceuticals
32.84
0.41
1.26%
ACAD
ACADIA Pharmaceuticals
17.19
-6.94
-28.76%
JAZZ
Jazz Pharmaceuticals
137.45
20.82
17.85%
NBIX
Neurocrine
110.87
-27.74
-20.01%
HRTX
Heron Therapeutics
2.22
-0.19
-7.88%
AXSM
Axsome Therapeutics
118.78
47.85
67.46%
Supernus Pharmaceuticals Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -2.26% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong growth in core products and financial performance, FDA approvals, and a robust cash position. However, challenges include declines in legacy product sales, unfavorable study results for SPN-820, and conservative 2025 guidance. The positive aspects slightly outweigh the negative trends.Highlights
Significant Growth in Core Products
Excluding Trokendi XR and Oxtellar XR, total revenues increased by 25% for the full year 2024, driven by Qelbree's 25% growth in annual prescriptions and 72% growth in annual net sales.
Strong Financial Performance
Total revenue for the full year 2024 was $661.8 million, an increase from $607.5 million in 2023. The company reported GAAP net earnings of $73.9 million, compared to $1.3 million in 2023.
FDA Approval and Patent Extension for Qelbree
Qelbree received FDA approval for an updated label and a two plus year patent term extension, enhancing its market position.
Successful Cash Generation and Strong Balance Sheet
The company generated approximately $300 million in cash from operations over two years, ending 2024 with $454 million in cash and no debt.
Launch of ONAPGO
FDA approved ONAPGO, a new growth product for treating Parkinson's disease, with a planned launch in the second quarter of 2025.
Lowlights
Decline in Legacy Products
Net sales of Trokendi XR and Oxtellar XR declined by 22% for the full year 2024, with first generic entry affecting Oxtellar XR.
SPN-820 Phase IIb Study Results
The Phase IIb study of SPN-820 in adults with treatment-resistant depression did not demonstrate a statistically significant improvement on primary and secondary endpoints.
2025 Financial Guidance Challenges
For 2025, the company expects total revenues to decrease to a range of $600 million to $630 million, with potential operating losses between $10 million and $15 million.
Company Guidance
During the Supernus Pharmaceuticals fourth quarter and full year 2024 financial results call, the company provided guidance for 2025, expecting total revenues to range from $600 million to $630 million. This includes anticipated combined net sales of $65 million to $75 million from Trokendi XR and Oxtellar XR, which are expected to continue experiencing sales erosion. The company projects a GAAP operating earnings range from $10 million to an operating loss of $15 million, with non-GAAP operating earnings expected to range from $105 million to $130 million. Supernus highlighted the strong performance of Qelbree, noting a 72% increase in annual net sales and a 25% growth in annual prescriptions in 2024, significantly outpacing the 9% growth of the overall ADHD market. The company also celebrated the FDA approval of Qelbree's updated label, which emphasizes its novel non-stimulant profile and includes important lactation data for women with ADHD. For GOCOVRI, net sales grew by 9% year-over-year. Additionally, the company plans to launch ONAPGO, a subcutaneous apomorphine infusion device for Parkinson's disease, in the second quarter of 2025, with minimal sales included in the guidance. Supernus also emphasized its strong balance sheet, with $454 million in cash and no debt, and its ongoing commitment to corporate development and strategic growth opportunities.Supernus Pharmaceuticals Corporate Events
Executive/Board Changes
Supernus Pharmaceuticals Updates Executive Compensation Packages
Neutral
Feb 24, 2025
On February 19 and 20, 2025, Supernus Pharmaceuticals’ Board of Directors approved modifications to the compensation packages of its executive officers following recommendations from the Compensation Committee. The changes, effective January 1, 2025, include salary increases and stock options for executives like Timothy C. Dec, Padmanabh P. Bhatt, Jonathan Rubin, Frank Mottola, and CEO Jack A. Khattar. These adjustments align with industry standards and were advised by Aon plc, reflecting the company’s commitment to competitive compensation practices.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.