SUPN stock soars to 52-week high, hits $39.38 amid growth

Supernus Pharmaceuticals Inc (NASDAQ:SUPN) stock has reached a new 52-week high, touching $39.38 as the company continues to show robust performance in the pharmaceutical sector. According to InvestingPro data, the company maintains impressive gross profit margins of 89% and holds a "GREAT" financial health rating. This milestone reflects a significant uptrend in the stock's value, marking a 36.84% increase over the past year. Investors have shown increased confidence in Supernus, as the company's strategic initiatives and product pipeline appear to be resonating positively within the market. The 52-week high serves as a testament to the company's strong financial health and the optimistic outlook held by its shareholders. InvestingPro analysis suggests the stock is slightly undervalued, with 14 additional exclusive insights available to subscribers, including detailed valuation metrics and growth forecasts.

In other recent news, Supernus Pharmaceuticals has reported substantial growth in its total revenue, reaching $175.7 million, primarily driven by key products Qelbree and GOCOVRI. The company's net product sales also saw a significant rise to $170.3 million. Despite this, Supernus's legacy products, Trokendi XR and Oxtellar XR, experienced a decline in net sales.

Simultaneously, the FDA has approved a label update for Supernus's ADHD treatment, Qelbree, including new pharmacodynamic data and lactation study results. The label now provides detailed information on Qelbree's mechanism of action and data from a lactation study, suggesting minimal transfer of the drug's active ingredient to breastfed infants.

Furthermore, Supernus has raised its full-year 2024 revenue guidance to between $630 million and $650 million. The company anticipates continued erosion in sales for Trokendi XR but has increased its sales target for Trokendi XR and Oxtellar XR to approximately $155 million for 2024. Lastly, Supernus's GAAP operating earnings are projected to be between $50 million and $65 million, with non-GAAP operating earnings expected to range between $150 million and $170 million. These are all recent developments in the company's performance and outlook.

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