ADHD Drug Maker Supernus Pharmaceuticals Downgraded On Slower Prescription Growth For Its Top-Selling Drug
Portfolio Pulse from Vandana Singh
Piper Sandler downgraded Supernus Pharmaceuticals (NASDAQ:SUPN) due to slower-than-expected prescription growth for its ADHD drug, Qelbree. Despite a 92% increase in Qelbree's net sales in Q2 2024, future growth is expected to be modest. Piper adjusted its price target for SUPN from $41 to $36.
September 11, 2024 | 6:38 pm
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Supernus Pharmaceuticals was downgraded by Piper Sandler due to slower-than-expected growth in prescriptions for its ADHD drug, Qelbree. The price target was reduced from $41 to $36, reflecting concerns over future sales growth.
The downgrade by Piper Sandler is significant as it reflects a reassessment of Qelbree's growth potential, impacting investor sentiment negatively. The reduction in price target indicates a less optimistic outlook on the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100