Frank Mottola, Senior Vice President at Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), reported significant stock transactions on November 7, 2024. Mottola sold 15,000 shares of common stock, generating approximately $554,700. The shares were sold at a weighted average price of $36.98, with individual transactions ranging from $36.73 to $37.27.
In addition to the sales, Mottola exercised options to acquire 15,000 shares at $9.13 per share, totaling $136,950. Following these transactions, Mottola now holds 8,200 shares directly. The stock sales and option exercises were detailed in a recent SEC filing.
In other recent news, Supernus Pharmaceuticals reported a noteworthy surge in total revenue, reaching $175.7 million in the third quarter, largely attributed to the growth of its key products, Qelbree and GOCOVRI. Net product sales also experienced an appreciable increase, amounting to $170.3 million. Specifically, Qelbree prescriptions saw a 19% rise, while GOCOVRI net sales grew by 8% year-over-year. However, legacy products Trokendi XR and Oxtellar XR witnessed a decline in net sales.
In light of these recent developments, Supernus has raised its full-year 2024 revenue guidance to between $630 million and $650 million. Despite the continued erosion in sales for Trokendi XR, the company has boosted its sales target for Trokendi XR and Oxtellar XR to approximately $155 million for 2024.
While the company anticipates GAAP operating earnings to be between $50 million and $65 million, non-GAAP operating earnings are projected between $150 million and $170 million. These projections underscore the company's robust financial performance and its strategic focus on key products and late-stage pipeline assets.
InvestingPro Insights
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) has been showing strong performance, as evidenced by Frank Mottola's recent stock transactions. This aligns with several key metrics and insights from InvestingPro.
According to InvestingPro data, Supernus has a market capitalization of $2.02 billion and is trading at a P/E ratio of 33.28. The company's revenue for the last twelve months as of Q3 2024 stood at $651.97 million, with a notable revenue growth of 14.17% in Q3 2024 compared to the previous quarter.
One of the InvestingPro Tips highlights that Supernus holds more cash than debt on its balance sheet, indicating a strong financial position. This could explain why executives like Mottola feel confident in exercising options and selling shares at current price levels.
Another relevant InvestingPro Tip notes that Supernus is trading near its 52-week high, which is reflected in the stock's recent performance. The company has shown a impressive 54.76% price total return over the past year, suggesting strong investor confidence.
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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