Representative Gilbert Ray Cisneros, Jr. (D-California) has sold shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN). According to a filing made on November 18, 2023, the Representative disclosed that he sold between $1,001 and $15,000 worth of Supernus stock on October 9, 2023. The transaction took place through his “150 MAIN STREET TRUST > BANK OF AMERICA” account.
On the day following Cisneros’ trade, Supernus Pharmaceuticals experienced a minor decline, with stock prices falling by 0.4% to reach $45.15 during trading on Monday. The trading volume for the day was 815,205 shares, surpassing the average volume of 696,947 shares. Over the past year, Supernus shares have fluctuated between a low of $29.16 and a high of $57.65. The company currently holds a market capitalization of $2.59 billion and a price-to-earnings (P/E) ratio of 39.26.
Recent Insider Trades Highlight Active Market
In related developments, Jack A. Khattar, CEO of Supernus Pharmaceuticals, sold 59,900 shares on October 9, 2023. The shares were sold at an average price of $50.57, resulting in a total transaction value of $3,029,143. Following this sale, Khattar retained 1,206,578 shares, valued at approximately $61,016,649.46, marking a 4.73% decrease in his holdings.
Additionally, Frank Mottola, Senior Vice President, sold 5,000 shares on September 12, 2023, at an average price of $45.87, amounting to $229,350. Post-transaction, Mottola directly owns 15,496 shares, valued at around $710,801.52, reflecting a 24.40% reduction in his position. In total, insiders have sold 183,135 shares worth $8,773,587 in the past 90 days, with insiders holding 8.80% of the company’s stock.
Analysts Adjust Ratings for Supernus Pharmaceuticals
Several research analysts have recently provided updates on Supernus Pharmaceuticals. Weiss Ratings has reaffirmed a “sell (d+)” rating, while Cantor Fitzgerald raised its price target from $46.00 to $63.00, giving the stock an “overweight” rating. TD Cowen also increased its target price from $45.00 to $60.00, maintaining a “buy” rating.
Additionally, Zacks Research upgraded Supernus Pharmaceuticals from a “hold” to a “strong-buy” rating. Piper Sandler similarly elevated its rating from “neutral” to “overweight,” adjusting the price target from $40.00 to $65.00. Currently, one analyst rates the stock as a Strong Buy, four have issued Buy ratings, and one has recommended a Sell. Overall, the consensus rating stands at “Moderate Buy” with an average target price of $63.25, according to data from MarketBeat.com.
Institutional Investors Show Increased Interest
Recent activity among institutional investors indicates a growing interest in Supernus Pharmaceuticals. Notably, GW&K Investment Management LLC boosted its holdings by 14.6% in the first quarter, now owning 1,382,441 shares valued at approximately $45,275,000. Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake worth $2,148,000 during the same period.
Additionally, Royce & Associates LP increased its holdings by 90.0%, owning 24,582 shares valued at $805,000. Assetmark Inc. raised its position by 14.3% to 37,963 shares, worth around $1,243,000. Lastly, Zurcher Kantonalbank Zurich Cantonalbank elevated its stake by 2.4%, owning 14,664 shares valued at $480,000.
About Representative Gilbert Ray Cisneros, Jr.
Gil Cisneros represents California’s 31st Congressional District in the U.S. House of Representatives, having assumed office on January 3, 2025. His current term will conclude on January 3, 2027. Cisneros is seeking re-election for the upcoming 2026 election. A Navy veteran who served from 1994 to 2004, he holds a bachelor’s degree in political science from George Washington University, an MBA from Regis University, and a master’s in urban education policy from Brown University. His career includes serving as a logistics manager for Frito-Lay and engaging in philanthropy and activism following a lottery win in 2010.
Supernus Pharmaceuticals Overview
Supernus Pharmaceuticals, Inc. is a biopharmaceutical company specializing in the development and commercialization of treatments for central nervous system (CNS) diseases in the United States. Their commercial offerings include Trokendi XR, an extended-release topiramate product for epilepsy and migraine prevention, and Oxtellar XR, an extended-release oxcarbazepine for treating partial onset seizures in both adults and children aged 6 to 17.
