UPDATE: Jefferies Upgrades Supernus Pharmaceuticals (SUPN) to Buy Positive Survey Drives Peak Sales to $600M

April 13, 2021 4:50 AM EDT
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Price: $30.54 +2.38%

Rating Summary:
    10 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 4 | New: 24
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(Updated - April 13, 2021 8:09 AM EDT)

Jefferies analyst David Steinberg upgraded Supernus Pharmaceuticals (NASDAQ: SUPN) from Hold to Buy with a price target of $40.00 due to the recent approval of Qelbree and ‘830 likely launching in 2H22. Additionally, the analyst conducted a clinician survey that indicated that Qelbree could gain significant share from current nonstimulant ADHD agets and raised the peak sales forecast to $600M+.

The analyst stated "SUPN is on the cusp of a new product cycle that should more than offset Trokendi XR’s LOE in 2023. Our first survey suggests Qelbree could become a larger opportunity than expected. Clinicians plan to switch 42% of their non-stimulant ADHD patients to Qelbree. Our payer survey indicates 60% will offer unrestricted access for appropriate rebates, helping eliminate factors that dampen uptake." The analyst went on to state "Based on a differentiated clinical profile and MOA, surveyed high prescribing ADHD physicians expect to prescribe Qelbree to an impressive 20% of their patients over the next 5 years – largely at the expense of current nonstimulant therapies (e.g., Strattera) but also from stimulant medications (e.g., Ritalin)."

For an analyst ratings summary and ratings history on Supernus Pharmaceuticals click here. For more ratings news on Supernus Pharmaceuticals click here.

Shares of Supernus Pharmaceuticals closed at $27.97 yesterday.


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