H.C. Wainwright Maintains Buy On Catalyst Pharmaceutical Following Presentation At AANEM
In a research report released today, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Catalyst Pharmaceutical (NASDAQ:CPRX) with a $13 price target, as the company introduced its Firdapse study data to the LEMS-treating medical community at the American Association of Neuromuscular and Electrodiagnostic Medicine (AANEM) Annual Meeting.
Fein noted, “we have no reservations on the efficacy, approvability, and marketability of the drug, given its existing approval in Europe, recent strong trial data, and an apparent physician and patient preference for more convenient access to amifapridine. Importantly, as they gear up to take Firdapse through the FDA in the next 14 months with a Breakthrough Therapy Designation in hand (we anticipate launch in 2016), Catalyst is also thinking compassionately—and strategically—about the LEMS market: the company has launched an expanded access program (EAP), which should begin to provide free drug to LEMS patients until a time when they are rolled over onto commercial drug post-approval. Management expects that the first few patients will begin treatment within the next month. Overall, we remain positive on the commercial advantages of Firdapse over generic amifampridine base (as supplied by Jacobus), which include better compound stability (no need for refridgeration/compounding), easier access through prescription (no need for doctors to file individual INDs & FDA paperwork at year end), prescribing information and pharmacovigilance plan.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a total average return of 8.0% and a 43.2% success rate. Fein has an -13.0% average return when recommending CPRX, and is ranked #904 out of 3367 analysts.