5 Best Pharmaceutical Stocks to Buy According to Steven Boyd’s Armistice Capital

3. Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN)

Armistice Capital’s Stake Value: $136,271,000

Percentage of Armistice Capital’s 13F Portfolio: 2.37%

Number of Hedge Fund Holders: 19

Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) is a pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system (CNS) diseases. It markets several therapies for CNS diseases, including Qelbree for treatment of ADHD, Trokendi XR and Oxtellar XR for treatment of epilepsy, among others.

As of Q2 2022, Steven Boyd’s Armistice Capital holds 4,712,000 shares of Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), accounting for 2.37% of the hedge fund’s 13F portfolio. The hedge fund increased its stake by 52% in Q2 2022, as compared to the previous quarter.

In April, Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) had announced that it had received FDA approval for Qelbree for the treatment of ADHD in adult patients aged 18 and older, making it the first novel, nonstimulant option for adults with ADHD in the last 20 years.

On August 31, Piper Sandler analyst David Amsellem raised the price target on Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) shares to $38 from $33 and maintained an ‘Overweight’ rating on the shares. The increase in price target stemmed from prescription growth of Qelbree in ADHD treatment in the latest quarter.

As of Q2 2022, 19 of the 895 hedge funds tracked by Insider Monkey held Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) shares, valued at a combined total of $247 million. Armistice Capital is its largest shareholder.