State of New Jersey Common Pension Fund D Makes New Investment in Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN)

State of New Jersey Common Pension Fund D purchased a new stake in shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) in the third quarter, according to its most recent filing with the SEC. The firm purchased 56,885 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,774,000. State of New Jersey Common Pension Fund D owned 0.10% of Supernus Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Armistice Capital LLC raised its holdings in Supernus Pharmaceuticals by 47.6% during the second quarter. Armistice Capital LLC now owns 5,272,000 shares of the specialty pharmaceutical company’s stock worth $141,026,000 after purchasing an additional 1,700,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Supernus Pharmaceuticals by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,866,887 shares of the specialty pharmaceutical company’s stock worth $76,690,000 after buying an additional 309,966 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Supernus Pharmaceuticals by 1.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,932,209 shares of the specialty pharmaceutical company’s stock worth $60,246,000 after buying an additional 33,710 shares in the last quarter. Renaissance Technologies LLC grew its stake in Supernus Pharmaceuticals by 26.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,685,122 shares of the specialty pharmaceutical company’s stock valued at $45,077,000 after acquiring an additional 351,900 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Supernus Pharmaceuticals by 100,186.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,349,854 shares of the specialty pharmaceutical company’s stock valued at $36,109,000 after acquiring an additional 1,348,508 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SUPN. Cowen reaffirmed a “buy” rating on shares of Supernus Pharmaceuticals in a report on Friday, October 18th. StockNews.com upgraded Supernus Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating on shares of Supernus Pharmaceuticals in a report on Friday, October 18th.

Supernus Pharmaceuticals Price Performance

Shares of NASDAQ SUPN opened at $35.25 on Tuesday. The company has a market cap of $1.95 billion, a PE ratio of 32.94 and a beta of 0.86. The company has a 50-day simple moving average of $33.38 and a 200-day simple moving average of $30.96. Supernus Pharmaceuticals, Inc. has a 12 month low of $25.53 and a 12 month high of $39.37.

Supernus Pharmaceuticals (NASDAQ:SUPN) last issued its quarterly earnings results on Monday, November 4th. The specialty pharmaceutical company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.25. Supernus Pharmaceuticals had a return on equity of 7.79% and a net margin of 9.16%. The company had revenue of $175.70 million during the quarter, compared to the consensus estimate of $157.35 million. During the same period in the previous year, the firm posted ($0.29) EPS. Supernus Pharmaceuticals’s revenue was up 14.2% on a year-over-year basis. On average, analysts anticipate that Supernus Pharmaceuticals, Inc. will post 2.37 EPS for the current year.

Insider Activity

In related news, SVP Frank Mottola sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.98, for a total transaction of $554,700.00. Following the completion of the transaction, the senior vice president now owns 8,200 shares of the company’s stock, valued at approximately $303,236. This represents a 64.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jack A. Khattar sold 125,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.68, for a total transaction of $4,585,000.00. Following the transaction, the chief executive officer now directly owns 926,172 shares in the company, valued at approximately $33,971,988.96. This represents a 11.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,213 shares of company stock valued at $5,660,180 in the last 90 days. 9.30% of the stock is currently owned by insiders.

About Supernus Pharmaceuticals

Supernus Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system (CNS) diseases in the United States. The company's commercial products are Trokendi XR, an extended release topiramate product indicated for the treatment of epilepsy, as well as for the prophylaxis of migraine headache; and Oxtellar XR, an extended release oxcarbazepine for the monotherapy treatment of partial onset seizures in adults and children between 6 to 17 years of age.