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Supernus Pharmaceuticals (SUPN) Stock Rallies After Beating Q3 Earnings Estimates

SUPN
Sam Boughedda

Shares of pharmaceutical company Supernus Pharmaceuticals (NASDAQ: SUPN) have rallied premarket on Wednesday after the company released its third-quarter earnings results after the close on Tuesday evening. 

Supernus revealed that its Q3 revenue had risen to $155.1 million, compared to $102.1 million in 2019. $152.1 million of its revenue came from product sales while $3 million came from royalties. 

However, it is the company’s earnings and full-year revenue guidance that has caused the rise in its share price.

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The Maryland based firm said its earnings per share came in at $0.74, above the $0.54 in Q3 2019 and way over analysts estimates that were in the range of $0.29 to $0.37.  

Supernus increased its full-year product sales guidance to $500-$525 million from the previous $460-$500 million. 

Tuesday’s earnings report has seen Supernus shares surge over 19% to $21.60 after the previous sessions close at $18.16. 

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Sam Boughedda
Sam Boughedda
Team Member

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.