After Oppenheimer and H.C. Wainwright gave Catalyst Pharma (NASDAQ: CPRX) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Charles Duncan reiterated a Buy rating on Catalyst Pharma yesterday and set a price target of $8. The company’s shares closed yesterday at $3.13.
Duncan commented:
“. We reiterate our Overweight rating and 12-month price target of $8 on CPRX. AMC Wednesday, the company announced its first FDA approval, for orphan-designated Syndrome (LEMS). With this approval clearly removing non-zero regulatory and thus commercial risk, we have enhanced conviction Firdapse has notable potential to “catalyze” a paradigm shift for LEMS and, perhaps, other high-burden muscle weakness diseases (CMS, MuSK-MG) given its value proposition (clinical data, expanded patient access).”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -1.5% and a 41.5% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Catalyst Pharma has an analyst consensus of Strong Buy, with a price target consensus of $6.25.
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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 $4.18 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.
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