In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Catalyst Pharma (CPRX), with a price target of $8. The company’s shares opened today at $3.19.
Duncan wrote:
“. We reiterate our Overweight rating and $8 PT on CPRX. This morning BMO, Catalyst hosted an earnings call and reported 3Q18 expenses of $8.2M and cash & investments of $66.7M. Our model projects sufficient cash to fund operations through the anticipated Firdapse launch in 2019. Questions on the call centered on potential near-term Firdapse approval (PDUFA goal date Nov. 28), as well as go-to-market strategy, including patient access and pricing. Additionally, the company now plans to expand to the Canadian market (just announced).”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 1.0% and a 44.9% 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 $6.60.
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The company has a one-year high of $4.51 and a one-year low of $2.18. Currently, Catalyst Pharma has an average volume of 808.2K.
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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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