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H.C. Wainwright Sticks to Their Buy Rating for Catalyst Pharma (CPRX)


H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Catalyst Pharma (CPRX) today and set a price target of $6. The company’s shares closed yesterday at $3.08.

Fein noted:

“Our price target of $6/share is based on an equally weighted composite of: (a) $6.62/ share, as a 35x multiple of taxed and diluted 2024 GAAP EPS of $0.57 discounted back to 2018 at 20%; and (b) an NPV of discounted cash flows between 2018-2024 of $4.46/share (discount rate 12%, growth rate 2%). Risks to our investment thesis and target price include: (1) failure of Firdapse to secure regulatory approval in the US; and (2) 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 12.3% and a 46.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Catalyst Pharma with a $6.60 average price target, implying an 114.3% upside from current levels. In a report issued on October 26, Cantor Fitzgerald also reiterated 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 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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