Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Catalyst Pharma (CPRX) today and set a price target of $9. The company’s shares opened today at $2.52.
Duncan wrote:
“. We reiterate our Overweight rating and raise our PT on CPRX shares to $9 from $8. Catalyst announced Firdapse WAC pricing in LEMS of $375K per year, higher than our projections ($200K). More importantly, the company also outlined its underlying diligence and key success metrics for its commercialization strategy, including plans to transition existing patients to commercial drug through a free drug program and copay assistance.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -1.2% and a 42.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Catalyst Pharma is a Strong Buy with an average price target of $7, a 177.8% upside from current levels. In a report issued on November 29, H.C. Wainwright also maintained a Buy rating on the stock with a $6 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 $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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