The initiation from B of A adds a fresh bullish voice to a consensus that is already overwhelmingly positive, with upward EPS revisions and insider buying providing confirming signals. The elevated short-sale volume creates a potential squeeze setup if the stock continues to attract positive catalysts.
INDV drugs
INDV drug pipeline →Price Chart
How similar events traded
Executive Summary
B of A Securities initiated coverage on Supernus (INDV) with a Buy rating and a $47 price target on November 9, 2026. The firm's 47% accuracy rate on 3,214 calls and average return of 5.8% places it below the top-tier firms covering this stock. The consensus on INDV is heavily bullish, with 9 of 10 analysts rating it Buy or Strong Buy and only one Hold. The mean price target of $49.50 implies 36% upside from the current $36.28, with targets ranging from $45 to $53. B of A's $47 target sits below the median of $50, making it a relatively conservative entry point. Momentum is positive, with one upgrade in the last 30 days and no downgrades, while EPS revisions have been trending upward across multiple periods. Insider activity shows a small open-market buy by the Chief Accounting Officer in August 2026, aligning with the bullish analyst signal. Institutional investors have been accumulating shares, with several funds doubling positions. Short-sale volume on November 2 was elevated at 58.5% of off-exchange volume, suggesting bearish hedging that could unwind on positive catalysts. The initiation from a large bank adds credibility to the bullish consensus, though the firm's track record is average relative to peers.
Impact Score
Consensus & Targets
The consensus on INDV is strongly bullish: 3 Strong Buy, 6 Buy, 1 Hold, 0 Sell, 0 Strong Sell across 10 analysts. This represents 90% Buy/Strong Buy ratings, with only one hold rating. The direction is overwhelmingly positive, with no bearish voices in the analyst community.
The mean price target is $49.50, median $50, high $53, low $45. Current price is $36.28, implying 36.4% upside to the mean. B of A's $47 target is below the median but above the low, representing a relatively conservative entry point within the bullish range. The spread from low to high is $8, indicating moderate dispersion among analysts.
Recent Analyst Activity
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| 2026-11-09 | B of A Securities | initiate | Buy | $47.00 |
| 2026-11-04 | Cantor Fitzgerald | maintain | Overweight | $87.00 |
| 2026-10-28 | Barclays | maintain | Overweight | $45.00 |
| 2026-08-05 | Barclays | maintain | Overweight | No target |
| 2026-06-18 | Barclays | initiate | Overweight | No target |
| 2026-01-12 | HC Wainwright & Co. | maintain | Buy | $48.00 |
| 2025-10-31 | Piper Sandler | reiterate | Overweight | $41.00 |
| 2025-10-30 | HC Wainwright & Co. | maintain | Buy | $35.00 |
| 2025-08-27 | Craig-Hallum | maintain | Buy | $34.00 |
| 2025-08-06 | HC Wainwright & Co. | initiate | Buy | $28.00 |
In the last 30 days, there has been 1 upgrade (this initiation) and 0 downgrades. EPS revisions are positive: the current quarter (0q) saw 2 upward revisions in the last 7 days and 2 in the last 30 days, with 0 downward revisions. The next fiscal year (+1y) also shows 2 upward revisions in 7 days and 3 in 30 days. Estimates are being revised higher across all periods, supporting the bullish case.
Firm Track Record: B of A Securities
B of A Securities accuracy: 47% on 3214 calls | avg return: 5.8%
Industry benchmark: mean 45% ± 8%. Top tier: ≥53% (mean + 1σ). Based on 3 firms with ≥5 scored calls.
| Firm | Accuracy | Calls | Avg Return | vs Average |
|---|---|---|---|---|
| Piper Sandler | 83% | 5/6 | 24.9% | top tier |
| HC Wainwright & Co. | 67% | 2/3 | 18.2% | top tier |
| Craig-Hallum | 60% | 3/5 | 21% | top tier |
B of A Securities has a 47% accuracy rate on 3,214 scored calls with an average return of 5.8%. This is below the top-tier firms covering INDV: Piper Sandler (83% on 6 calls, avg return 24.9%), HC Wainwright (67% on 3 calls, avg return 18.2%), and Craig-Hallum (60% on 5 calls, avg return 21%). B of A's initiation is less predictive than these specialist firms but still adds institutional credibility.
Earnings Estimates
| Period | EPS Est. | EPS Range | Revenue | Revisions (7d) |
|---|---|---|---|---|
| 0q | $1.22 | $1.22 to $1.22 | $337.9M | ↑2 ↓0 |
| +1y | $4.51 | $3.89 to $4.89 | $1.4B | ↑2 ↓0 |
| 0y | $4.42 | $4.36 to $4.47 | $1.3B | ↑0 ↓0 |
| +1q | $0.94 | $0.86 to $1.02 | $328.0M | ↑2 ↓0 |
Cross-Platform Signals
Insider activity shows a single open-market buy of $53,535 by the Chief Accounting Officer on August 27, 2026, which is a small but bullish signal aligning with the analyst initiation. Institutional changes show significant accumulation: Assenagon Asset Management doubled its position to $126.9M, Artemis Investment Management doubled to $1.7M, and NISA Investment Advisors increased 831.9% to $740K. One fund trimmed by 61.8% ($21K). Short-sale volume on November 2 was 58.5% of off-exchange volume, elevated and diverging from the bullish analyst and insider signals, this could represent hedging that may unwind on positive news. No congressional trades were recorded.
Investment Themes
Documents Analyzed
Report based on filing metadata.
Track record
32 reports on INDV
7 of 9 bullish or bearish reports moved the stock their way by T+5. Best: +21.73% at T+60 after the Apr 24, 2026 report. 9 of 9 went positive at some point.
Filters
- Nov 9, 20262d ago ANALYST-UPGRADE Neutral 3/10 Viewing Entry price pending
- Nov 3, 20268d ago 8-K Neutral 2/10 Entry $35.43 due Nov 10
- Nov 2, 20269d ago 8-K Neutral 5/10 Entry $35.25 due Nov 9
- Oct 29, 202613d ago 425 Bullish 5/10 Entry $35.25 to $36.28 ▲ +2.92% +7.65% vs SPY
- Oct 29, 202613d ago 8-K Bullish 5/10 No price data
- Oct 29, 202613d ago Press Release Neutral 5/10 Entry $35.25 to $36.28 ▲ +2.92% +7.65% vs SPY
- Oct 20, 202622d ago Institutional Cluster Bullish 4/10 Entry $34.79 to $34.72 ▼ −0.20% +0.24% vs SPY
- Oct 19, 202623d ago Press Release Neutral 1/10 Entry $33.87 No price data
- Oct 6, 20265w ago 425 Neutral 4/10 Entry $35.90 to $35.42 ▼ −1.34% −1.20% vs SPY
- Oct 6, 20265w ago 8-K Neutral 3/10 Entry $35.90 to $35.42 ▼ −1.34% −1.20% vs SPY
US Market Status
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