Roth Capital analyst Scott Henry is out today with a research note on shares of Catalyst Pharmaceuticals Inc (NASDAQ:CPRX), following recent meeting with the company’s senior management. Henry rates CPRX a Buy, with a price target of $2.50, which represents a potential upside of 81% from where the stock is currently trading.

The analyst points out that expectations remain for the second phase 3 Firdapse trial to commence in 4Q16. Firdapse is being developed as a treatment for LambertEaton Myasthenic Syndrome (LEMS), and data could be available by mid-year 2017, ahead of Henry’s 4Q17 target.

With respect to the trial design the analyst notes, “The trial will bring patients to two locations (Miami, Los Angeles – recruiting in the winter could be a benefit). Patients will be put up for 7-10 days at CPRX’s expense. The time commitment for patients may be ~4 hours on two separate days. The trial likely costs ~$15K/ patient.”

“No disclosure yet on potential Firdapse pricing, but we would assume that our $100K target is at (or below) the low end of the range. Nothing new on Jacobus as that company has been mostly silent per industry contacts,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a yearly average return of 2.8% and a 41% success rate. Henry has a -19.1% average return when recommending CPRX, and is ranked #1088 out of 4182 analysts.

As of this writing, all the 3 analysts polled by TipRanks rate Catalyst Pharmaceutical stock a Buy. With a return potential of 135.5%, the stock’s consensus target price stands at $3.25.