Catalyst: Roth Capital Expects Positive Results From Phase 3 Study Of Firdapse
In a research report issued today, Roth Capital analyst Scott Henry assigned a Buy rating on Catalyst Pharmaceutical (NASDAQ:CPRX) with a $5.00 price target, as the last patient has completed the blinded portion of the company’s ongoing pivotal phase 3 study of Firdapse for the symptomatic treatment of Lambert-Eaton myasthenic syndrome (LEMS). Top line data is on track to be reported in the last days of September.
Henry noted, “Firdapse data looms at the end of this September. We expect that the data will be positive, but also disclaim that this is a binary risk. Ahead of the data, we are upping our price target on CPRX to $5/share from $3.50/share to reflect greater pricing power opportunities for Firdapse and the re-entry of CPP-115 into the clinic.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 18.5% and a 52.9% success rate. Henry has a 20.6% average return when recommending CPRX, and is ranked #195 out of 3282 analysts.