Georges Gemayel, a director at Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), recently executed significant stock transactions involving the company's shares. On November 7, Gemayel sold 14,213 shares of Supernus Pharmaceuticals at a weighted average price of $36.62 per share, amounting to a total of $520,480. This sale followed the exercise of options to acquire the same number of shares at a price of $11.46 each, totaling $162,880.
The transactions were part of a strategic move by Gemayel, who now holds 13,315 shares directly after these activities. The sales were executed in multiple transactions within a price range of $36.50 to $36.89 per share.
In other recent news, Supernus Pharmaceuticals revealed a substantial surge in total revenue in its third-quarter earnings call. This revenue increase, reaching $175.7 million, was primarily driven by the growth of key products, Qelbree and GOCOVRI, which witnessed a 19% and 8% rise in net sales respectively. However, the company's legacy products, Trokendi XR and Oxtellar XR, saw a slump in net sales.
In light of these developments, Supernus has revised its full-year 2024 revenue guidance upwards to a range of $630 million to $650 million. The company also anticipates GAAP operating earnings to fall between $50 million and $65 million for the year.
Despite a 26% decrease in Trokendi XR sales, Supernus remains optimistic, raising its sales target for Trokendi XR and Oxtellar XR to approximately $155 million for 2024. The company also reported an impressive increase in cash reserves to approximately $403.2 million, signaling robust operational cash generation.
In the pipeline, the company anticipates approval of the apomorphine pump by February 2025 and is optimistic about the upcoming study on SPN-820 for treatment-resistant depression, based on promising results in major depressive disorder trials.
InvestingPro Insights
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) has been demonstrating strong financial performance, which provides context to the recent insider transaction. According to InvestingPro data, the company's market capitalization stands at $2.02 billion, with a price-to-earnings ratio of 33.28, reflecting investor confidence in the company's earnings potential.
The company's revenue growth is noteworthy, with a 14.17% increase in quarterly revenue as of Q3 2024. This growth is complemented by an impressive gross profit margin of 89.04% for the last twelve months, indicating efficient cost management and strong pricing power in the pharmaceutical market.
InvestingPro Tips highlight that Supernus holds more cash than debt on its balance sheet, suggesting a solid financial position. This financial stability may have influenced the director's decision to exercise options and sell shares at the current market price. Additionally, the company's net income is expected to grow this year, which aligns with the positive sentiment surrounding the stock.
It's worth noting that Supernus is trading near its 52-week high, with a strong return of 54.76% over the past year. This performance could explain the timing of the insider's decision to realize gains on their options.
For investors seeking more comprehensive analysis, InvestingPro offers 14 additional tips for Supernus Pharmaceuticals, providing a deeper understanding of the company's financial health and market position.
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