Supernus Stock Soars on Experimental ADHD Drug Update

Today's pop has SUPN at a fresh annual high

Deputy Editor
Dec 23, 2020 at 11:49 AM
facebook X logo linkedin

The shares of Supernus Pharmaceuticals Inc (NASDAQ:SUPN) are up 17.7% at $26.50 at last check, after its experimental drug for attention deficit hyperactivity disorder (ADHD), SPN-812, met its main goal in a late-stage study in adults. The drug is being reviewed by the Food and Drug Administration (FDA) for treatment in children aged 6-17, and if approved, the company hopes to seek marketing approval for adults with ADHD. 

Today's pop has SUPN trading at a fresh annual high, gapping above the $26 region -- a ceiling for the stock's highest rallies since its November 2019 bear gap. The equity once again has support from its 320-day moving average, and year-to-date has tacked on 14.1%. 

Analysts are split on Supernus stock, with two of the four analysts in coverage at a "strong buy" rating, and the remaining couple a tepid "hold." Meanwhile, the 12-month consensus price target of $27.75 is a 7.6% premium to current levels. 

Also worth noting, SUPN's growing short interest has accumulated an impressive amount of pent-up buying power. The 5.74 million shares sold short account for 11.4% of the stock's available float, and would take over 12 days to cover at the stock's average pace of trading. 

Today's news has the security's typically quiet options pits seeing much higher-than-usual volume, with 1,828 calls and 232 puts across the tape so far -- 47 times the standard daily volume and pacing in the 100th percentile of its annual range. Most popular by far is the January 2021 27-strike call, where new positions are being opened. 




How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.