In a report released yesterday, Leland Gershell from Oppenheimer reiterated a Buy rating on Catalyst Pharma (NASDAQ: CPRX), with a price target of $6. The company’s shares closed yesterday at $3.47.
Gershell wrote:
“We attended last week’s AANEM conference where we had the opportunity to interact with neuromuscular specialists and hear updates from CPRX management. Physicians with whom we spoke who treat LEMS and are familiar with Firdapse uniformly expect approval on/around the 11/28 PDUFA date. They were also optimistic for eventual approval/use in the addressable segment of the CMS population, and believe Firdapse has treatment potential for MuSK-MG. CPRX is solidly focused on launch preparations, with continued buildout of its commercial team and patient assistance program. We reiterate our Outperform rating and $6 PT as Firdapse’s potential approval and launch in LEMS approaches.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -3.2% and a 42.9% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.
Catalyst Pharma has an analyst consensus of Strong Buy, with a price target consensus of $6.80, implying a 96.0% upside from current levels. In a report issued on October 3, Cantor Fitzgerald also maintained a Buy rating on the stock with a $8 price target.
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Based on Catalyst Pharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.97 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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