In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Catalyst Pharma (CPRX), with a price target of $10. The company’s shares opened today at $3.45.
Duncan commented:
“. We reiterate our Overweight rating and PT of $10 per share of CPRX following the company’s 1Q19 earnings call this AM, where it reported 1Q19 revenues of $12.4M, above our $3.7M estimate and FactSet consensus of $1.6M. Despite less than one quarter into the launch, we are impressed by the company’s execution and initial metrics reported for Firdapse, with faster than expected transitioning of patients on 3,4-DAP to commercial drug, favorable insurance feedback and a growing number of new patients (81 as of May 9) that were not previously on 3,4-DAP. Catalyst reported ending 1Q19 with $50.6M in cash.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 7.6% and a 49.7% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
Currently, the analyst consensus on Catalyst Pharma is a Strong Buy with an average price target of $8.20, a 137.7% upside from current levels. In a report issued on May 6, Piper Jaffray also maintained a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $6.16 and a one-year low of $1.85. Currently, Catalyst Pharma has an average volume of 2.52M.
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Catalyst Pharmaceuticals is a biopharmaceutical company, which engages in the development and commercialization of therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases, including Lambert-Eaton myasthenic syndrome (LEMS), congenital myasthenic syndromes (CMS), MuSK antibody positive myasthenia gravis, spinal muscular at
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