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Supernus Pharmaceuticals, Inc. (SUPN) stock

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NASDAQ: SUPN Nasdaq Pharmaceuticals

C+ Fundamentals grade

Supernus Pharmaceuticals, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$82

Cash-flow model

Base case. Range ~$64–$110 across our lower- and higher-growth cases (14.6%–24.6% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 96% above it.

Price used: $41.92, November 2, 2026

Supernus Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Supernus Pharmaceuticals files

10-Q filed October 29: Supernus Pharmaceuticals

Supernus Pharmaceuticals grew revenue to $865m over the twelve months to September 2026, a 26.9% rise on a year earlier and an acceleration from the 24.9% pace seen a quarter earlier. Among the 46 pharmaceuticals companies we cover, that growth ranks 9th. Free-cash-flow margin held steady at 10.1%, though the diluted share count climbed 2.8% year-on-year, diluting existing holders. The fundamentals grade improves from C to C+. Our model value is little changed at $49.96 a share, versus a share price of $41.91, and the rating stays Hold. At that price, the market appears to be pricing in cash-flow growth of about 8.2% a year for five years, close to the 8.3% a year revenue growth the company has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Supernus Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $830m, up 24.9% on a year earlier, faster than the 16.3% growth a quarter earlier. That growth ranks 6 of 34 among the pharmaceuticals companies we cover. Free-cash-flow margin fell to 2.3% from 27.9% a year earlier. Operating margin narrowed to -15.7% from 9.6%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $49.96 a share, against a share price of $42.39.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Supernus Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 26.9% year on year, with a free-cash-flow margin of 10.1%. Where it stands out: gross margin of 87.6% ranks 4 of 59 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$82 per share in the base case (~$64–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 22.9% while net income fell 129.4%: a 152pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $41.92 is 96% below our value per share of $82.
  • Fast growth. Revenue grew 26.9% over the last 12 months, against a median of 10.0% for pharmaceuticals companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Loss-making. Operating margin is -5.7%: costs exceed revenue.
  • Share dilution. Diluted shares rose 2.8% in a year.
  • Insiders selling. 7 insiders sold $10M of stock over the past 365 days and none bought (82% under pre-set trading plans).

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$0.88 against an average estimate of $0.49: beat by 79.2%
Revenue
$227m, up 18.0% on a year earlier
Share reaction
+2.0% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Next report
October 29, 2026; average EPS estimate $1.02

Supernus Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week+2.8%
  • 1 month-1.1%
  • This year-15.7%
  • 1 year-24.0%
  • 5 years+39.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$865M
Operating margin
-5.7%
Net margin
-5.1%
EPS (TTM, diluted)
$-0.76

Growth

Revenue growth
+26.9%
Change in growth rate
+2.1 pts
Share count change
+2.8%

Cash

Free cash flow (TTM)
$87M
FCF margin
10.1%
Stock pay % of revenue
4.1%

Earnings

Last results
October 29, 2026

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Results
  3. Agreement ended
  4. Announcement
  5. Results
  6. Shareholder vote
  7. Announcement
  8. Results
  9. Leadership
  10. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Supernus Pharmaceuticals, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 4.2% a year of cash-flow growth for five years.That is close to the 8.3% a year revenue growth Supernus Pharmaceuticals has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in4.2%
  • Last 12 months26.9%
  • 3 years a year12.3%
  • 5 years a year8.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($30.23, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$82
Price used
$30.23close November 3, 2026
Implied change
▲ +171%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Supernus Pharmaceuticals, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($84M, FY2026 Q3 TTM), growing 32.8% and 26.3% in the next two years (forecasts, guidance and its record), then back to 19.6% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$64–~$110 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Supernus Pharmaceuticals, Inc.'s free cash flow after stock-based pay ( $84M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Supernus Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$82 ~$64–$110 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$4.9 ~$2.7–$8.7 Left out: out of range vs price (0.12x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$82 ~$64–$110 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Supernus Pharmaceuticals, Inc. with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −10%
  • Last year's free-cash-flow margin change, if it persists ▼ −3%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $24$31$41$54$71$93
8.5% $19$24$31$41$53$68
10% $16$20$26$33$42$54

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$13.44$25.25$39.85$33.22$23.72$25.16$29.16$35.67$28.94$36.16$49.70$41.92
Market value$688m$1.3bn$2.1bn$1.8bn$1.3bn$1.4bn$1.6bn$2.2bn$1.6bn$2.0bn$2.8bn$2.4bn
+ Net debt (− = net cash)−$26m−$62m−$99m$137m$164m$73m$176m$309m−$75m−$69m−$128m−$176m
Enterprise value$661m$1.2bn$2.0bn$1.9bn$1.4bn$1.4bn$1.8bn$2.5bn$1.5bn$2.0bn$2.7bn$2.3bn
Multiples
Price / sales 4.7x6.1x7.0x4.4x3.3x2.6x2.7x3.3x2.6x3.1x3.9x2.8x
Price / earnings 49.3x14.3x37.1x16.2x11.3x10.6x29.7x36.2xn/m27.4x——
Price / free cash flow 21.2x20.0x18.9x14.0x9.1x10.0x—18.9x14.5x11.8x61.0x28.0x
EV / EBITDA 30.4x22.0x18.8x12.8x9.3x7.4x14.8x19.1x19.2x12.1x91.4xn/m

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

69 /100

Moderate moat

How hard Supernus Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 19 / 20

    Cash operating profit has been a median 14.3% of total assets over 8 years.

  • Pricing power 18 / 20

    Gross margin has been a median 88.8%, moving by 3.8 percentage points (standard deviation) across 8 years.

  • Durability 4 / 20

    Operating margin has been a median 15.4%; its worst year was -5.7%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 23.5% of revenue.

  • Discipline 13 / 20

    The diluted share count rose 6.9% over five years; stock-based pay has been a median 3.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (74 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.38 −0% $884m +23%
Next $4.28 +80% $1.4bn +53%

Next year's EPS estimate has moved −1.5% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −4.1% on 90 days ago. In the last 30 days, 1 analyst raised Supernus Pharmaceuticals, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Supernus Pharmaceuticals, Inc., last 90 days
$2.00 $3.00 $4.00 $5.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.49 Current fiscal year, 60 days ago: $2.56 Current fiscal year, 30 days ago: $2.56 Current fiscal year, 7 days ago: $2.56 Current fiscal year, Now: $2.38 $2.38 Next fiscal year, 90 days ago: $4.34 Next fiscal year, 60 days ago: $4.46 Next fiscal year, 30 days ago: $4.46 Next fiscal year, 7 days ago: $4.46 Next fiscal year, Now: $4.28 $4.28

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.49$4.34
60 days ago $2.56$4.46
30 days ago $2.56$4.46
7 days ago $2.56$4.46
Now $2.38$4.28

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.49 $0.88 +79.2%
Jun 2026 $0.51 $0.53 +4.1%
Mar 2026 $0.28 $0.21 −24.5%
Dec 2025 $0.28 $0.88 +215.0%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Supernus Pharmaceuticals, Inc.'s revenue by +32.8% next year and +26.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+43.3%, weight 56%) and the company's own record (+19.6%, weight 44%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 2026314
  2. Sep 2026314
  3. Aug 20261416

Counts of recommendations published by analysts covering Supernus Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.5%
of tradable shares
Days to cover
5.36
at average volume
Short interest, 1 month
−19%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
4.3%
of shares
Employees
778
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −24.0%

$55.13 on October 31, 2025 to $41.92

ThenNowEffect
Revenue (last 12 months) $665m $830m +24.9%
P/S multiple 4.7x 2.9x −38.0%
Share count 56m 57m −1.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +71.2%

$24.48 on November 3, 2023 to $41.92

ThenNowEffect
Revenue (last 12 months) $634m $830m +31.0%
P/S multiple 2.3x 2.9x +24.3%
Share count 60m 57m +5.2%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SUPN+16%+22%−19%+25%+37%−16%
Industry peers (median)−20%−52%−13%−2%+7%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SUPN50%67%50%50%58%18%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SUPN−29%−26%−46%−27%−24%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 76% from June 29, 2018 to March 18, 2020. Getting back needed a 314% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$37.88 – $57.00
From 52-week high
−26.5%
vs 50-day average
−1.2%
vs 200-day average
−11.3%
Volatility (1 year)
37%
Beta vs S&P 500
0.53

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±5.7%
After a week
7 up, 4 down
typical move ±5.6%
After a month
3 up, 7 down
typical move ±9.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +2.0% −2.1% — —
October 19, 2026 +8.8% +0.8% +7.6% —
August 3, 2026 −3.1% +3.3% +5.5% −2.0%
July 22, 2026 −1.4% −1.3% −2.7% −0.9%
May 5, 2026 +5.8% +2.2% +3.9% −8.1%
April 22, 2026 +2.6% +0.6% −1.2% +0.5%
February 24, 2026 +11.1% +1.6% +7.6% −1.2%
February 12, 2026 −1.0% −1.5% −0.9% −2.2%
November 4, 2025 −15.4% −0.8% −17.2% −19.0%
October 21, 2025 −1.8% −0.5% +3.1% −11.4%
August 5, 2025 +14.5% +0.3% +11.3% +22.6%
July 22, 2025 −0.8% +0.9% +0.7% +28.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Supernus Pharmaceuticals, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed. Check the live chain at your broker before trading.

Option prices are read during US trading hours (9:30 to 16:00 New York time). Outside them the chain shows no bids or offers, so this screen fills in after the next session opens.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Supernus Pharmaceuticals, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Supernus Pharmaceuticals, Inc.
$500M $600M $700M $800M $900M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $607.5M Revenue (TTM), FY24 Q1: $597.4M Revenue (TTM), FY24 Q2: $630.2M Revenue (TTM), FY24 Q3: $652M Revenue (TTM), FY24 Q4: $661.8M Revenue (TTM), FY25 Q1: $668M Revenue (TTM), FY25 Q2: $665.1M Revenue (TTM), FY25 Q3: $681.5M Revenue (TTM), FY25 Q4: $719M Revenue (TTM), FY26 Q1: $776.8M Revenue (TTM), FY26 Q2: $830.4M Revenue (TTM), FY26 Q3: $865.1M $865.1M

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $607.5M
FY24 Q1 $597.4M
FY24 Q2 $630.2M
FY24 Q3 $652M
FY24 Q4 $661.8M
FY25 Q1 $668M
FY25 Q2 $665.1M
FY25 Q3 $681.5M
FY25 Q4 $719M
FY26 Q1 $776.8M
FY26 Q2 $830.4M
FY26 Q3 $865.1M
Revenue growth, TTM YoY Supernus Pharmaceuticals, Inc.
-20% -10% 0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -8.9% Revenue growth, TTM YoY, FY24 Q1: -10.6% Revenue growth, TTM YoY, FY24 Q2: -0.6% Revenue growth, TTM YoY, FY24 Q3: 6.8% Revenue growth, TTM YoY, FY24 Q4: 8.9% Revenue growth, TTM YoY, FY25 Q1: 11.8% Revenue growth, TTM YoY, FY25 Q2: 5.5% Revenue growth, TTM YoY, FY25 Q3: 4.5% Revenue growth, TTM YoY, FY25 Q4: 8.6% Revenue growth, TTM YoY, FY26 Q1: 16.3% Revenue growth, TTM YoY, FY26 Q2: 24.9% Revenue growth, TTM YoY, FY26 Q3: 26.9% 26.9%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -8.9%
FY24 Q1 -10.6%
FY24 Q2 -0.6%
FY24 Q3 6.8%
FY24 Q4 8.9%
FY25 Q1 11.8%
FY25 Q2 5.5%
FY25 Q3 4.5%
FY25 Q4 8.6%
FY26 Q1 16.3%
FY26 Q2 24.9%
FY26 Q3 26.9%
Operating margin (TTM) Supernus Pharmaceuticals, Inc.
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -0.9% Operating margin (TTM), FY24 Q1: -2.3% Operating margin (TTM), FY24 Q2: 4.2% Operating margin (TTM), FY24 Q3: 9.1% Operating margin (TTM), FY24 Q4: 12.3% Operating margin (TTM), FY25 Q1: 11.2% Operating margin (TTM), FY25 Q2: 9.6% Operating margin (TTM), FY25 Q3: -5.4% Operating margin (TTM), FY25 Q4: -8.7% Operating margin (TTM), FY26 Q1: -7.8% Operating margin (TTM), FY26 Q2: -15.7% Operating margin (TTM), FY26 Q3: -5.7% -5.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -0.9%
FY24 Q1 -2.3%
FY24 Q2 4.2%
FY24 Q3 9.1%
FY24 Q4 12.3%
FY25 Q1 11.2%
FY25 Q2 9.6%
FY25 Q3 -5.4%
FY25 Q4 -8.7%
FY26 Q1 -7.8%
FY26 Q2 -15.7%
FY26 Q3 -5.7%
FCF margin (TTM) Supernus Pharmaceuticals, Inc.
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 18.2% FCF margin (TTM), FY24 Q1: 16.7% FCF margin (TTM), FY24 Q2: 24.5% FCF margin (TTM), FY24 Q3: 26.4% FCF margin (TTM), FY24 Q4: 25.9% FCF margin (TTM), FY25 Q1: 24.5% FCF margin (TTM), FY25 Q2: 27.9% FCF margin (TTM), FY25 Q3: 10.4% FCF margin (TTM), FY25 Q4: 6.4% FCF margin (TTM), FY26 Q1: 10.6% FCF margin (TTM), FY26 Q2: 2.3% FCF margin (TTM), FY26 Q3: 10.1% 10.1%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 18.2%
FY24 Q1 16.7%
FY24 Q2 24.5%
FY24 Q3 26.4%
FY24 Q4 25.9%
FY25 Q1 24.5%
FY25 Q2 27.9%
FY25 Q3 10.4%
FY25 Q4 6.4%
FY26 Q1 10.6%
FY26 Q2 2.3%
FY26 Q3 10.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 0 1 1 12 93 147 215 302 409 393 520 580 667 608 662 719 865
Gross profit — — — — — — 203 287 394 376 468 — 580 524 584 644 758
EBITDA −39 −37 −41 −61 −4 22 57 108 152 155 192 119 132 80 162 29 3
Operating income −40 −38 −42 −62 −5 21 54 100 144 149 174 86 46 −5 82 −62 −49
Net income −38 54 −46 −92 −11 14 91 57 111 113 127 53 61 1 74 −39 −44
Diluted EPS −$26.38 $31.39 −$2.72 −$2.90 −$0.26 $0.28 $1.76 $1.08 $2.05 $2.10 $2.36 $0.98 $1.04 $0.02 $1.32 −$0.68 −$0.76
Growth (year on year)
Revenue — +657.5% +84.3% +712.1% +671.1% +59.1% +45.8% +40.6% +35.3% −3.9% +32.5% +11.4% +15.1% −8.9% +8.9% +8.6% +26.9%
EBITDA — — — — — — +160.1% +90.2% +40.7% +2.5% +23.6% −38.2% +11.0% −39.6% +103.6% −81.9% —
Operating income — — — — — — +160.1% +83.6% +45.1% +2.9% +16.9% −50.5% −46.4% −111.4% — −176.3% —
Net income — — −186.0% — — — +554.2% −37.2% +93.8% +1.9% +12.3% −57.9% +13.6% −97.8% — −152.2% —
Diluted EPS — — −108.7% — — — +528.6% −38.6% +89.8% +2.4% +12.4% −58.5% +6.1% −98.1% — −151.5% —
Margins
Gross margin — — — — — — 94.4% 95.0% 96.2% 95.8% 89.9% — 86.9% 86.2% 88.2% 89.6% 87.6%
EBITDA margin <−999% <−999% <−999% −509.0% −4.7% 14.8% 26.3% 35.6% 37.1% 39.5% 36.9% 20.5% 19.7% 13.1% 24.5% 4.1% 0.3%
Operating margin <−999% <−999% <−999% −515.2% −5.7% 14.1% 25.2% 32.9% 35.3% 37.8% 33.4% 14.8% 6.9% −0.9% 12.3% −8.7% −5.7%
Net margin <−999% >999% <−999% −767.7% −11.8% 9.5% 42.4% 19.0% 27.1% 28.8% 24.4% 9.2% 9.1% 0.2% 11.2% −5.4% −5.1%
Free-cash-flow margin <−999% <−999% <−999% −495.8% −27.1% 22.0% 30.3% 37.3% 31.3% 35.7% 25.9% — 17.4% 18.2% 25.9% 6.4% 10.1%
Cash flow
Cash from operations −33 −36 −47 −58 −24 35 67 115 129 143 138 127 117 111 172 47 88
Capital spending 0 1 1 2 1 2 2 2 1 3 3 — 0 1 1 1 1
Free cash flow −33 −37 −48 −60 −25 32 65 113 128 140 135 — 116 111 171 46 87
Stock-based pay 0 −0 0 2 3 4 6 8 11 15 17 18 18 27 28 33 36
Free cash flow after stock pay −33 −37 −48 −62 −28 28 59 104 117 126 118 — 99 84 143 13 51
Balance sheet
Cash 24 49 40 33 36 33 66 100 192 181 289 203 93 75 69 128 176
Total debt 0 23 23 34 26 7 4 1 329 345 362 379 402 — 0 0 0
Net debt (negative = net cash) −24 −26 −17 1 −10 −26 −62 −99 137 164 73 176 309 −75 −69 −128 −176
Diluted shares 2m 2m 17m 32m 42m 51m 52m 53m 54m 54m 54m 54m 62m 56m 56m 56m 58m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $1.4bn
Short-term assets $711mLonger-term assets $686m
What it owes, and who funded it · $1.4bn
Short-term liabilities $285mLonger-term liabilities $50mShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $711m of assets due within a year against $285m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $711m short-term assets against $50m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Supernus Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+2.8%
year over year
R&D spending
14.2%
of revenue
Sales & admin spending
58.9%
of revenue
Days sales outstanding
91 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated SUPN AXSM CORT HRMY ANIP PCRX Median
Revenue, last 12 months $865m $865m $831m $960m $978m $746m $276m
Revenue growth, last 12 months 26.9% 54.2% 16.0% 24.3% 30.9% 5.7% 9.9%
Revenue growth, 3-year average 12.3% 57.0% 24.7% 24.4% 34.6% 3.7% 5.5%
Revenue growth, latest quarter 18.0% 51.9% 31.7% 30.3% 25.9% 6.2% 6.5%
Gross margin 87.6% — 98.3% 75.4% 60.0% 79.2% 62.0%
Operating margin −5.7% −17.5% 0.8% 24.0% 15.4% 2.7% −5.9%
Operating margin, 3-year average −0.7% −48.6% 12.5% 26.6% 8.9% 0.4% −7.4%
Net margin −5.1% −18.2% 6.6% 18.9% 11.1% 2.0% −7.3%
Cash from operations / revenue 10.2% −9.5% 13.2% 37.0% 19.4% 25.2% 10.2%
Free-cash-flow margin 10.1% −9.5% 12.9% 37.0% 17.7% 24.1% 8.6%
Free-cash-flow margin, 3-year average 15.6% −22.3% 19.9% 34.3% 17.6% 22.5% 7.4%
Stock pay / revenue 4.1% 11.5% 10.7% 4.3% 4.2% 7.5% 3.6%
Change in share count 2.8% 4.7% −2.2% 0.6% 11.6% −2.8% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 26.9% 10.0% 17 of 74
Change in growth rate Growth +2.1pp -0.3pp 24 of 74
Gross margin Profitability 87.6% 59.8% 4 of 59
Operating margin Profitability -5.7% -5.9% 32 of 67
Net margin Profitability -5.1% -7.3% 35 of 75
Free-cash-flow margin Cash generation 10.1% 10.1% 37 of 74
Stock pay as % of revenue Cash generation 4.1% 3.6% 39 of 69
Change in share count Balance sheet 2.8% 1.5% 39 of 62
Days sales outstanding Balance sheet 91 days 72 days 40 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $627M 87.2% ▼ 1.8%
Qelbree $305M 48.6% ▲ 26.3%
GOCOVRI $147M 23.4% ▲ 12.2%
Collaboration Revenue $53M 8.5% —
Trokendi Xr $42.4M 6.8% ▼ 32.9%
Oxtellar XR $40.7M 6.5% ▼ 59.1%
Royalty License and Other Revenue $39.4M 6.3% ▲ 63.4%
APOKYN $47.8M 6.6% ▼ 35.4%
Manufactured Product Other $26.9M 3.7% ▼ 7.2%
ONAPGO $17.3M 2.4% —

From Supernus Pharmaceuticals, Inc.'s 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.8B
Institutions reporting
330
Shares held vs prior quarter
▲ 3.5%
Positions opened / closed
42 / 35

Top buyers and sellers, Q2 2026: 160 institutions bought and 147 sold ; the biggest buyer was Two Sigma Investments, LP (+913K shares) and the biggest seller Point72 Asset Management, L.P (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $435M 9.4M 15.5% ▲ 6.3%
Millennium Management LLC $179M 3.9M 6.4% ▲ 16.2%
Vanguard Portfolio Management LLC $154M 3.3M 5.5% ▲ 2.1%
Armistice Capital, LLC $123M 2.6M 4.4% ▲ 39.6%
Vanguard Capital Management LLC $117M 2.5M 4.2% ▲ 2.0%
State Street Corp $114M 2.5M 4.1% ▲ 7.5%
Nomura Asset Management International Inc. $111M 2.4M 3.9% ▲ 16.7%
Dimensional Fund Advisors LP $96.7M 2.1M 3.4% ▼ 9.9%
Geode Capital Management, LLC $73M 1.6M 2.6% ▼ 3.3%
Stephens Investment Management Group LLC $69.1M 1.5M 2.5% ▲ 10.0%
Renaissance Technologies LLC $68.8M 1.5M 2.5% ▼ 13.3%
Loomis Sayles & Co L P $68.6M 1.5M 2.4% ▲ 3.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Supernus Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $10.3M 20 trades by 7 insiders · 82% under pre-set plans
Net ▼ $10.3M net selling
Insider Date Trade Shares Price Value
Bhatt Padmanabh P. Sr. VP of IP, CSO March 18, 2026 Sell pre-set plan 412 $50.48 $20,798
Bhatt Padmanabh P. Sr. VP of IP, CSO March 18, 2026 Sell pre-set plan 6,838 $49.55 $338,823
Bhatt Padmanabh P. Sr. VP of IP, CSO March 17, 2026 Sell pre-set plan 22,290 $50.73 $1.1M
Bhatt Padmanabh P. Sr. VP of IP, CSO March 17, 2026 Sell pre-set plan 27,710 $49.95 $1.4M
Bhatt Padmanabh P. Sr. VP of IP, CSO March 16, 2026 Sell pre-set plan 15,886 $50.49 $802,084
Bhatt Padmanabh P. Sr. VP of IP, CSO March 16, 2026 Sell pre-set plan 34,114 $50.18 $1.7M
Khattar Jack A. President, CEO March 13, 2026 Sell pre-set plan 120 $51.75 $6,210
Khattar Jack A. President, CEO March 13, 2026 Sell pre-set plan 10,742 $51.00 $547,842
Khattar Jack A. President, CEO March 13, 2026 Sell pre-set plan 24,138 $50.09 $1.2M
Hudson Frederick M. Director March 12, 2026 Sell 5,369 $50.61 $271,725
Horich William Todd SVP, Commercial Operations March 10, 2026 Sell 4,439 $55.00 $244,145
Horich William Todd SVP, Commercial Operations March 9, 2026 Sell 4,438 $54.00 $239,652

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 9 trades and filings

In the last 12 months, 1 member of Congress disclosed 2 purchases and 0 sales of Supernus Pharmaceuticals, Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded December 11, 2025, filed January 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded October 9, 2025, filed November 18, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

  • October 29, 2026
  • October 19, 2026
  • August 3, 2026
  • July 22, 2026
  • May 5, 2026
  • April 22, 2026

Recent SEC filings

Data status

When each part of this page on Supernus Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Supernus Pharmaceuticals, Inc. in brief

What does Supernus Pharmaceuticals, Inc. do?
Supernus Pharmaceuticals, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Supernus Pharmaceuticals, Inc.'s stock ticker?
Supernus Pharmaceuticals, Inc. trades under the ticker SUPN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Supernus Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Supernus Pharmaceuticals, Inc. reported revenue of $865M, 26.9% higher than a year earlier, according to its SEC filings.
What is Supernus Pharmaceuticals, Inc.'s free cash flow?
Supernus Pharmaceuticals, Inc.'s free-cash-flow margin is 10.1% of revenue over the trailing twelve months, ranking 37 of the 74 pharmaceuticals companies we cover.
What is Supernus Pharmaceuticals, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Supernus Pharmaceuticals, Inc.'s free cash flow after stock-based pay gives ~$82 per share in the base case, and ~$64–$110 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Supernus Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Millennium Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Supernus Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Supernus Pharmaceuticals, Inc.'s market capitalisation was about $2.4B and net debt of -$176M. Market figures come from third-party market data and may be delayed.
Who are Supernus Pharmaceuticals, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Supernus Pharmaceuticals, Inc. are Axsome Therapeutics, Inc., Corcept Therapeutics Inc, Harmony Biosciences Holdings, Inc., ANI Pharmaceuticals Inc and Pacira Biosciences, Inc. The side-by-side comparison below sets their revenue, margins and growth against Supernus Pharmaceuticals, Inc.'s.
Are insiders buying or selling Supernus Pharmaceuticals, Inc. stock?
Over the last 12 months, Supernus Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 20 sales on Form 4. The insider trading page charts every trade.