After Oppenheimer and Cantor Fitzgerald gave Catalyst Pharma (NASDAQ: CPRX) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Andrew Fein reiterated a Buy rating on Catalyst Pharma today and set a price target of $9. The company’s shares opened today at $3.25.
“Our price target of $9/share is based on an equally weighted composite of: (a) $11.10/ share, as a 35x multiple of taxed and diluted 2024 GAAP EPS of $0.95 discounted back to 2018 at 20%; and (b) an NPV of discounted cash flows between 2018-2024 of $7.45/share (discount rate 12%, growth rate 2%). Risks to our investment thesis and target price include failure of Firdapse to achieve peak commercial revenue estimates in our model due to market size, penetration rates, and/or pricing.”
According to TipRanks.com, Fein is a 5-star analyst with an average return of 9.3% and a 49.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and ACADIA Pharmaceuticals Inc.
Catalyst Pharma has an analyst consensus of Strong Buy, with a price target consensus of $9.33, representing a 187.1% upside. In a report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $10 price target.
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Based on Catalyst Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.84 million. In comparison, last year the company had a GAAP net loss of $5.39 million.
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Catalyst Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on development and commercialization of prescription drugs targeting rare (orphan) neuromuscular and neurological diseases, including Lambert-Eaton Myasthenic Syndrome (LEMS), infantile spasms, and Tourette’s disorder.