With its share prices in a downward slump, two insiders picked up nearly 40,000 shares in Supernus Pharmaceuticals (SUPN) this past week. The buying trend started on March 14 when Gregory Patrick (VP and CFO) and Jack Khattar (President and CEO) bought 15,000 shares of company stock. More recently, Director John Siebert added 3,000 shares to his stake on March 21. The shares traded at $5.50 per share for a total transaction amount of $16,500. Siebert now holds on to 15,188 shares of Supernus stock.
Siebert added 7,000 shares in Dec. 2012 before the price per share fell. Since that buy the price per share is down 31.7%.
Siebert has been a member of the Board since 2011. He has been the Chairman and CEO of Compan Pharmaceuticals, a veterinary specialty company, since 2009. He currently chairs the Audit Committee of the Board at both Primus Pharmaceuticals and Aradigm (ARDM).
On March 22, Director Michael Bigham bought 35,000 shares at $5.41 per share. The transaction cost him $189,350. Bigham now owns at least 36,500 shares of Supernus.
Bigham has been a member of the Board since 2006. He currently works as a partner with Abingworth Management, an international venture capital firm focusing on life sciences.
Supernus Pharmaceuticals is a company that develops and commercializes products for the treatment of central nervous system disorders. The company is also developing product candidates in neurology and psychiatry to address unmet medical needs and other opportunities in epilepsy, ADHD and depression.
GuruFocus has reported that the company has extremely low interest coverage. Supernus Pharmaceutical’s earnings cannot currently cover its interest expense. If this continues, the company might have to issue more debt.
The company released this statement in regards to 2013 financial Guidance:
In order to support both product launches and the continued development of our pipeline, we project cash burn for the year to range from $95 million to $105 million. We believe our cash, cash equivalents, and marketable securities as of Dec. 31, 2012 should be sufficient to fund operations into the fourth quarter of 2013.
For more information on Supernus Pharmaceuticals, look at their summary page and analysis page.
There are no gurus that hold any stake in Supernus Pharmaceuticals.
With its shares down 5.44%, Supernus trades at $5.56.
For more information on insider trading at Supernus look at the Supernus Insider Trade History page.
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