Supernus Stock Is Up 31% This Past Year but Still 20% Below 2018 Highs as One Fund Scales Back
Key Points
Aristotle Capital Boston sold 503,122 shares of Supernus Pharmaceuticals in the third quarter.
The move contributed to a net position change of about $10.9 million from the previous quarter.
As of September 30, Aristotle Capital Boston reported holding 305,273 SUPN shares valued at $14.6 million.
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Aristotle Capital Boston disclosed in a November 14 SEC filing that it sold 503,122 shares of Supernus Pharmaceuticals (NASDAQ:SUPN), contributing to a reduction in its position by about $10.9 million.
What Happened
According to a Securities and Exchange Commission (SEC) filing dated November 14, Aristotle Capital Boston reduced its holdings in Supernus Pharmaceuticals (NASDAQ:SUPN) by 503,122 shares in the third quarter. The fund’s overall position decreased to 305,273 shares with a reported value of $14.6 million as of September 30. The estimated value of shares sold was approximately $10.9 million.
What Else to Know
Supernus represents about 0.75% of 13F AUM as of September 30.
Top holdings after the filing:
- NASDAQ:HURN: $54 million (2.8% of AUM)
- NASDAQ:ACIW: $44.6 million (2.3% of AUM)
- NYSE:DY: $44 million (2.3% of AUM)
- NASDAQ:HQY: $41.3 million (2.1% of AUM)
- NASDAQ:MTSI: $40.6 million (2.1% of AUM)
As of Monday, Supernus shares were priced at $47.28, up about 31% over the past year and well outperforming the S&P 500, which is up about 13% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Monday) | $47.28 |
| Market Capitalization | $2.7 billion |
| Revenue (TTM) | $681.5 million |
| Net Income (TTM) | ($19.1 million) |
Company Snapshot
- Supernus Pharmaceuticals offers branded pharmaceuticals for central nervous system (CNS) disorders, including epilepsy, migraine, ADHD, and Parkinson's disease; key products include Trokendi XR, Oxtellar XR, Qelbree, and several Parkinson's therapies.
- The company generates revenue primarily through the development, commercialization, and sale of proprietary CNS therapies, distributed via pharmaceutical wholesalers, specialty pharmacies, and distributors.
- It targets neurologists, psychiatrists, and other healthcare professionals treating patients with CNS disorders in the United States.
Supernus Pharmaceuticals, Inc. is a mid-cap biopharmaceutical company specializing in therapies for central nervous system disorders. With a diversified portfolio of marketed products and a pipeline spanning late-stage to preclinical assets, the company leverages proprietary formulations and targeted commercial strategies. Its focus on specialty conditions and established distribution channels supports a defensible market position in the U.S. CNS therapeutics sector.
Foolish Take
Supernus stock has rallied sharply over the past year and outperformed the broader market, but it remains well below its historical highs. That combination often invites trimming rather than doubling down, especially when a position has become less central to a diversified portfolio.
Operationally, Supernus continues to show momentum. Third-quarter revenue rose 9% year over year to $192.1 million, driven by strong growth from its four key growth products, which collectively grew more than 50%. Qelbree and GOCOVRI continued to expand, while ONAPGO contributed its first full quarter of sales following launch. The company also raised full-year revenue guidance, reflecting confidence in near-term execution.
Still, profitability remains uneven. GAAP results swung to a net loss year over year, largely due to acquisition-related costs tied to the Sage deal, while adjusted operating earnings declined year over year. With more than $280 million in cash on hand, Supernus has flexibility, but investors must weigh growth against rising expenses and integration risk. Ultimately, the trim likely suggests a preference for reallocating capital toward higher-conviction holdings rather than a loss of faith.
Glossary
13F: A quarterly SEC filing required from institutional investment managers disclosing their equity holdings.
Assets Under Management (AUM): The total market value of investments managed by a fund or investment firm.
Reportable Assets: Investments that must be disclosed in regulatory filings, such as those listed in a 13F report.
Stake: The amount of ownership or shares held in a company by an investor or fund.
Top Holdings: The largest investments in a fund’s portfolio, typically ranked by market value.
Outperforming: Achieving a higher return than a benchmark or index over a specific period.
Mid-cap: A company with a market capitalization generally between $2 billion and $10 billion.
Proprietary Formulations: Unique drug compositions owned and developed by a specific company.
Pipeline: The portfolio of drug candidates a pharmaceutical company is developing, from preclinical to late-stage trials.
Distribution Channels: The methods or intermediaries a company uses to deliver products to customers or end users.
Wholesalers: Companies that buy products in bulk from manufacturers and sell them to retailers or other distributors.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Huron Consulting Group. The Motley Fool has a disclosure policy.
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