Stock Track | Supernus Pharmaceuticals Soars on Strong Q3 Results and Raised Outlook

Stock Track11-05

Shares of Supernus Pharmaceuticals (SUPN) surged over 9% in premarket trading on November 5th, 2024, after the pharmaceutical company reported impressive third-quarter financial results that exceeded analyst expectations and raised its full-year revenue guidance.

For the third quarter of 2024, Supernus Pharmaceuticals reported a 14.2% year-over-year increase in revenue to $175.7 million, beating analyst estimates of $157.3 million. The strong revenue growth was driven by a remarkable 68% increase in net sales of the company's key product, KVIS, compared to the same period last year.

Furthermore, the company swung to a net profit of $38.5 million or $0.69 per diluted share in Q3 2024, compared to a net loss of $16 million in the same quarter last year. This significant earnings beat surpassed analyst expectations of $0.44 per share, providing a major positive surprise for investors.

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