In a report released today, Leland Gershell from Oppenheimer reiterated a Buy rating on Catalyst Pharma (CPRX), with a price target of $9. The company’s shares closed yesterday at $2.91.
Gershell observed:
“CPRX traded down sharply yesterday following a Reuters article that discussed a letter from Senator Bernie Sanders (I-VT) to HHS and FDA Commissioner Scott Gottlieb. The shares closed down 5.8% on relatively heavy volume. While Sanders’ call to effectively allow compounded forms of 3,4-DAP may have spooked the market, we view this merely as headline noise, as we ascribe a near-zero likelihood that the agency would act in contradiction to its own recent guidance (issued under Gottlieb/Azar). We continue to expect Firdapse’s launch in LEMS to at least meet expectations, and view the current weakness as an attractive buying opportunity.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -1.1% and a 37.5% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Evofem Biosciences Inc, AzurRx BioPharma Inc, and Urogen Pharma Ltd.
Currently, the analyst consensus on Catalyst Pharma is a Strong Buy with an average price target of $8.38.
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The company has a one-year high of $4.05 and a one-year low of $1.85. Currently, Catalyst Pharma has an average volume of 1.39M.
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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.
