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Fly News Breaks for November 7, 2019
Nov 7, 2019 | 04:56 EDT
Stifel analyst Annabel Samimy downgraded Supernus Pharmaceuticals to Hold from Buy with a price target of $23, down from $55. The analyst cites the Phase 3 miss for SPN-810/IA for the downgrade, an asset he views a "critical replacement" for Trokendi. While Supernus is holding out for the second Phase 3 result before determining the program's viability, the analyst says he can no longer count on SPN-810's contribution given a likely extended development pathway, even if the second trial is successful. Further, more disappointing is the third revenue miss this year, Samimy tells investors in a post-earnings research note. Reduced growth prospects for Trokendi, "insufficient offset" from Oxtellar, and removal of SPN-810 "has meaningfully impacted future cash flows," says the analyst.
News For SUPN From the Last 2 Days
Dec 1, 2021 | 07:50 EST
Jefferies analyst David Steinberg resumed coverage of Supernus with a Buy rating with a price target of $44, up from $40, following the closing of the Adamas Pharmaceuticals transaction, noting that he assumes "substantial" EPS accretion in FY22-FY24 of about 50%, 113%, and 70%, respectively, in those fiscal years. Supernus now has three new growth drivers in Qelbree, Gocovri, and AIP to help mitigate the loss of Trokendi XR in 2023 and "lead to strong growth beyond," Steinberg said.