Representative Gilbert Ray Cisneros, Jr. (D-California) has disclosed the sale of shares in Supernus Pharmaceuticals, Inc. (NASDAQ: SUPN). According to a filing made on November 18, 2023, Cisneros sold between $1,001 and $15,000 worth of stock on October 9, 2023. This transaction was conducted through a trust account with Bank of America.
On the day of the sale, shares of Supernus Pharmaceuticals experienced a slight decline of 0.4%, trading at $45.15. The trading volume peaked at 815,205 shares, surpassing the average volume of 696,947. Over the past year, Supernus Pharmaceuticals has seen a price fluctuation with a low of $29.16 and a high of $57.65. The company currently holds a market capitalization of approximately $2.59 billion, with a price-to-earnings ratio of 39.26 and a beta of 0.75.
Recent Insider Transactions
In addition to Cisneros’s sale, other significant transactions by company insiders were reported. Jack A. Khattar, CEO of Supernus Pharmaceuticals, sold 59,900 shares on the same day, at an average price of $50.57, resulting in a total transaction value of $3,029,143. Following this transaction, Khattar’s holdings decreased by 4.73%, leaving him with 1,206,578 shares valued at approximately $61 million.
Furthermore, Frank Mottola, Senior Vice President, sold 5,000 shares on September 12, 2023, for $229,350. This transaction reflected a 24.40% reduction in Mottola’s holdings, which now amount to 15,496 shares, valued at about $710,801. Over the last 90 days, insiders have sold a total of 183,135 shares, accumulating approximately $8.77 million in value. Currently, insiders own 8.80% of the company’s stock.
Analyst Ratings and Institutional Investments
Recent reports have highlighted varying analyst ratings for Supernus Pharmaceuticals. Weiss Ratings reaffirmed a “sell (d+)” rating, while Cantor Fitzgerald raised its price target from $46.00 to $63.00, issuing an “overweight” rating. TD Cowen also increased their target price from $45.00 to $60.00, classifying the stock as a “buy.” In contrast, Zacks Research upgraded its rating from “hold” to “strong buy.” Overall, the consensus rating for Supernus Pharmaceuticals is classified as a “Moderate Buy” with an average target price of $63.25, according to data from MarketBeat.com.
Several institutional investors have recently adjusted their holdings in the company. GW&K Investment Management LLC raised its position by 14.6% in the first quarter, owning 1,382,441 shares valued at about $45.28 million. Other notable changes include Royce & Associates LP, which increased its holdings by 90.0%, now owning 24,582 shares valued at approximately $805,000.
These transactions and adjustments indicate a dynamic trading environment surrounding Supernus Pharmaceuticals, reflecting investor confidence and strategic positioning ahead of upcoming market developments.
About Rep. Gilbert Ray Cisneros, Jr.
Gil Cisneros is a member of the U.S. House of Representatives, representing California’s 31st Congressional District. He assumed office on January 3, 2025, with his current term set to end on January 3, 2027. Cisneros has announced his intention to seek re-election for the 2026 election. His background includes service in the U.S. Navy from 1994 to 2004, followed by a successful career in business and philanthropy after winning the lottery in 2010. He subsequently founded a scholarship program aimed at benefiting local high school students.
Cisneros’s educational qualifications include a bachelor’s degree in political science from George Washington University and two master’s degrees in business administration and urban education policy from Regis University and Brown University, respectively. In 2021, he was appointed by President Joe Biden as Under Secretary of Defense for Personnel and Readiness, further expanding his role in public service.
As developments unfold regarding Supernus Pharmaceuticals and its key players, stakeholders will be closely monitoring these activities for their potential implications on market trends and company performance.
