In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Catalyst Pharma (NASDAQ: CPRX), with a price target of $6. The company’s shares closed yesterday at $2.93.
Gershell observed:
“2Q GAAP net loss per share of $0.06 was lighter vs. our $0.09 estimate. With Firdapse’s FDA approval for LEMS expected in late November and no AdComm anticipated, CPRX is focused on commercial readiness for an early 2019 launch. Our peak 2025E sales forecast of ~$475M includes uptake into CMS, a related condition for which we expect label expansion in 2020. A pivotal trial in a third potential indication, MuSK-MG, will produce data in 2H19 and could support the incorporation of this opportunity into our model. We recommend risk-tolerant investors take advantage of CPRX shares at their current levels as Firdapse’s potential approval and launch in LEMS approach, and key clinical results in other ultra-orphan disorders are revealed.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -11.4% and a 12.5% 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 Moderate Buy, with a price target consensus of $6, representing a 104.8% upside. In a report released today, H.C. Wainwright also reiterated 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 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 $3.88 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CPRX in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
