Stock

Supernus Pharmaceuticals

SUPN
34
Drug Manufacturers - Specialty & Generic · Healthcare
Also trades as: 0LB2.L GBP 0.41 (-2.15%)
Price
$40.70
-1.37 (-3.26%)
Market Cap
$2.37B
Exchange
NASDAQ
Winston Score
34
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Oct 24, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
10/30
Growth
Mixed
8/20
Cash Flow
Weak
1/10
Stability
Good
5/10
Valuation
Data not available
0/10
Ownership
Good
8/15
Dividends
Not counted
n/a

32 of 95 counted points = Winston Score 34. Pillars marked n/a do not apply to this company and are left out of the total.

Share count rising — dilution

+3.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 54.4M (2021) → 56.5M (2025)

§Winston Score History

The full picture

Supernus Pharmaceuticals is a specialty drug company that focuses on treatments for diseases of the central nervous system (CNS) — basically conditions affecting the brain and nervous system. Its main products include Qelbree (for ADHD), Oxtellar XR and Trokendi XR (both for epilepsy), and APOKYN and other drugs acquired from US WorldMeds for Parkinson's disease. Its customers are primarily neurologists and psychiatrists in the United States.

The company earns money by selling branded prescription drugs directly to pharmacies and specialty distributors, who then supply patients. Supernus operates almost entirely in the U.S. market and generates strong gross margins above 80%, which is typical for branded specialty pharmaceuticals. However, its negative operating margin reflects heavy spending on research and development for pipeline drugs. The key growth driver is expanding Qelbree's market share in the competitive ADHD space, while the main risk is patent expiration on older products like Trokendi XR, which already faces generic competition that has pressured revenues.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+32.4% YoY

YoY Growth Rate

Revenue accelerating

Reported EPS Growth

-352.5% YoY

Quarterly reporting periods ended:

30 Jun 2025: $0.40

30 Jun 2026: $-1.01

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS decreased year over year

R&D Spend

$106M/ year

→ Flat (-2% vs prior year)

14.8% of revenue

In line with sector average (18%)

Steady R&D investment year-over-year

Insider Activity

6.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$374M cash & investments at current burn rate

Revenue accelerating

Supernus Pharmaceuticals grew revenue 32% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
84.6%
Premium pricing power — 84.6% gross margin
Profit after running costs
Operating Margin
-26.5%
Losing money on operations — -26.5%
Return on the money invested
ROCE
-10.4%
Weak — -10.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
+24.9%
Fast-growing sales (+24.9% YoY)
Profit growth
EPS YoY
-264.2%
Earnings shrinking (-264.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
2.3%
Thin free cash flow (2.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.04
Conservative — low debt load (0.04)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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