Supernus a new buy at BofA on 'underappreciated' CNS assets

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BofA Securities has initiated coverage of Supernus Pharmaceuticals (SUPN [https://seekingalpha.com/symbol/SUPN]) at buy saying that the market is not fully appreciating the company's portfolio of central nervous system drugs.

The bank set a price target of $65 (~22% upside based on Oct. 29 close).

Analyst Pavan Patel mentioned non-stimulant ADHD treatment Qelbree (viloxazine) and Onapgo (apomorphine), which is used for motor fluctuations in advanced Parkinson's disease, as key growth drivers.

He noted that Qelbree's "rapid onset of action, 24-hour coverage, and efficacy in patients with comorbidities such as anxiety and depression will allow it to continue capturing meaningful market share from both new + switch patients," adding the drug is the most important growth driver for the next five years and accounts for ~$27 of the $65 price target.

Based on a survey of movement disorder doctors, Patel said he sees Onapgo peak sales of $350M, above the company's guidance of $200M-$300M. "By providing steady, continuous dopaminergic stimulation over the waking day, it aims to reduce the time patients experience motor fluctuations."

He added that Supernus' acquisition of Sage Therapeutics, which completed [https://seekingalpha.com/news/4458311-supernus-stock-focus-sage-agrees-to-buy] in late July, adds revenue diversification. Sage has partnered with Biogen (BIIB [https://seekingalpha.com/symbol/BIIB]) to market the postpartum depression therapy Zurzuvae (zuranolone).

Supernus shares are trading ~4.5% higher in Wednesday afternoon trading.

MORE ON SUPERNUS PHARMACEUTICALS

* Supernus Pharmaceuticals: Heading In The Right Direction [https://seekingalpha.com/article/4823808-supernus-pharmaceuticals-heading-in-the-right-direction]
* Supernus Pharmaceuticals, Inc. (SUPN) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4809131-supernus-pharmaceuticals-inc-supn-q2-2025-earnings-call-transcript]
* Supernus upgraded at Piper Sandler on Onapgo potential [https://seekingalpha.com/news/4502972-supernus-stock-upgraded-piper-sandler]
* Supernus raises 2025 revenue guidance to $670M-$700M following Sage acquisition and strong core product growth [https://seekingalpha.com/news/4479360-supernus-raises-2025-revenue-guidance-to-670m-700m-following-sage-acquisition-and-strong-core]
* Seeking Alpha’s Quant Rating on Supernus Pharmaceuticals [https://seekingalpha.com/symbol/SUPN/ratings/quant-ratings]