Big Pharma looking to make a move on Supernus Pharma (NASDAQ:SUPN)

This post was written by Zak Mir, a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator

A few interested parties are looking at acquiring Supernus Pharma, given the decent drugs portfolio. Indeed, it is said to be the next on the shopping list of major players in the sector. One of them is Merck (NYSE:MRK), another AbbVie (NYSE:ABBV), and there are also European names in the mix such as AstraZeneca (LON:AZN) and even Novartis (VTX: NOVN).

supnlogo

It looks as though Supernus is very much buyable commodity, with approaches and offers around the $55 level. But the company is holding out for more – as this is what its advisors have suggested it do. The average analyst valuation is $50, so this is understandable.

supnchart

Looking at the daily chart it can see the stock has been a technical buy in the $35 – $37 zone since September, as if someone was adding / building a stake in that zone. From a technical perspective the sideways price action at and above $35 is underpinning this situation well, suggesting that the next time the stock breaks above its 200 day moving average now at $40.24 we could see a significant positive move. Interestingly enough, the top of a rising trend channel which can be drawn from November 2016 points at $55, coinciding with the alleged takeover price zone.

Disclaimer
Zakmir.com is a purely journalistic website – Zak Mir is a member of the National Union of Journalists. There is no intention here of providing financial advice. It is recommended you seek an independent professional opinion before deciding whether or not to take any action with regard to anything written here.

Zak Mir

Zak Mir

About Me

Zak Mir is a Technical Analyst, Events Host, Presenter, CEO Interviewer and established Market Commentator. Zak presents the daily Bulletin Board Heroes which can be seen here at Share Talk

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