Oppenheimer analyst Leland Gershell maintained a Buy rating on Catalyst Pharma (CPRX) today and set a price target of $10. The company’s shares closed yesterday at $6.11, close to its 52-week high of $6.16.
Gershell wrote:
“The approval of Jacobus’ Ruzurgi (amifampridine free base) for the treatment of pediatric patients with LEMS comes as a surprise, as investors had all but written off this version of 3,4-DAP following Firdapse’s approval (for adults, who comprise nearly all of the LEMS population) under the presumption that other forms would be blocked by orphan exclusivity. With CPRX shares -43% after Monday’s close, the market appears to be factoring significant impact to Firdapse’s commercial prospects from off-label use of a (presumably cheaper) agent. As we endeavor to better understand implications to CPRX, we maintain our Outperform rating as our initial impression is that of an over-reaction to the downside that may be driven more by fear than by fact.”
According to TipRanks.com, Gershell is a 5-star analyst with an average return of 18.3% and a 66.2% success rate. Gershell covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Anchiano Therapeutics Ltd, and Miragen Therapeutics Inc.
Catalyst Pharma has an analyst consensus of Strong Buy, with a price target consensus of $9.13, a 49.4% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $7.50 price target.
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The company has a one-year high of $6.16 and a one-year low of $1.85. Currently, Catalyst Pharma has an average volume of 1.83M.
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Catalyst Pharmaceuticals is a biopharmaceutical company, which engages in the development and commercialization of therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases, including Lambert-Eaton myasthenic syndrome (LEMS), congenital myasthenic syndromes (CMS), MuSK antibody positive myasthenia gravis, spinal muscular at
