Supernus Pharmaceuticals Shares Rise 3.1% After Upgrade and Acquisition News

Supernus Pharmaceuticals (SUPN) shares jumped 3.1% after Cantor Fitzgerald upgraded the stock to Overweight from Neutral and raised its price target to $42 from $36. The upgrade followed positive developments in the company's planned acquisition of Sage Therapeutics, which had expired the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. The acquisition is expected to enhance Supernus' product portfolio with Sage's innovative treatments.

Supernus Pharmaceuticals, Inc. (SUPN) shares experienced a notable increase, rising by 3.1% on July 2, 2025, following a positive upgrade by Cantor Fitzgerald. The financial services firm upgraded the stock to "Overweight" from "Neutral," and raised its price target to $42 from $36. The upgrade was attributed to encouraging developments in Supernus' planned acquisition of Sage Therapeutics, Inc. (SAGE), a Delaware corporation.

The acquisition, which had expired the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act, is expected to bolster Supernus' product portfolio with Sage's innovative treatments. The HSR Act waiting period expired at 11:59 p.m. Eastern Time on July 25, 2025, satisfying one of the conditions necessary to consummate the offer [1].

Supernus and Sage entered into an Agreement and Plan of Merger on June 13, 2025, and filed the required Premerger Notification and Report Forms with the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice on June 25 and June 30, 2025, respectively. The expiration of the HSR Act waiting period is a significant milestone in the acquisition process.

The offer, which includes a cash component of $8.50 per share and a contingent value right (CVR) of up to $3.50 per share, is subject to various conditions, including the achievement of specific sales milestones for the pharmaceutical product ZURZUVAE. The CVR Agreement outlines milestone payments based on regulatory approvals and sales targets in Japan and the United States [1].

Supernus' acquisition of Sage is expected to enhance its portfolio with treatments for central nervous system (CNS) diseases, including depression and other disorders. The acquisition is a strategic move to strengthen Supernus' position in the competitive biopharmaceutical market.

References:
[1] https://www.biospace.com/press-releases/supernus-pharmaceuticals-announces-expiration-of-hart-scott-rodino-waiting-period-for-sage-therapeutics-inc-tender-offer