HC Wainwright Reaffirms “Buy” Rating for Catalyst Pharmaceuticals (CPRX)

HC Wainwright restated their buy rating on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) in a research report released on Thursday. The brokerage currently has a $6.00 target price on the biopharmaceutical company’s stock.

“AT-014 Conditional Approval: Further Attestation to Strategy AT-014 receives a conditional licensure from the USDA. On December 20, Aratana announced that the USDA Center for Veterinary Biologics has granted AT-014 conditional marketing approval for the treatment of canine osteosarcoma. AT-014 is a canine cancer vaccine derived from listeria that targets HER2/neu, a causative mutation of canine osteosarcoma. In pilot studies, AT-014 treatment of dogs with osteosarcoma (n=18) increased their median overall survival (mOS) to 956 days compared to 423 days for historical controls (p<0.05). Therefore, following the USDA approval we believe that AT-014 can quickly become a preferred therapeutic option for this difficult-to-treat indication. With four product approvals in two years, we believe the success of AT-014 is a further attestation of management's strategy of bringing advanced human therapies to the veterinarian market.",” HC Wainwright’s analyst commented.

A number of other research firms also recently commented on CPRX. Piper Jaffray Companies set a $8.00 target price on Catalyst Pharmaceuticals and gave the stock a buy rating in a research report on Friday, December 1st. BidaskClub downgraded Catalyst Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Thursday, December 7th. SunTrust Banks restated a buy rating and issued a $6.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Wednesday, November 29th. Zacks Investment Research downgraded Catalyst Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, November 14th. Finally, Roth Capital set a $5.00 price objective on Catalyst Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $6.25.

Catalyst Pharmaceuticals (NASDAQ:CPRX) traded down $0.08 on Thursday, reaching $3.94. The company’s stock had a trading volume of 378,603 shares, compared to its average volume of 2,144,189. The stock has a market capitalization of $411.95, a P/E ratio of -18.76 and a beta of 1.69. Catalyst Pharmaceuticals has a one year low of $1.01 and a one year high of $4.51.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Catalyst Pharmaceuticals by 11.3% during the second quarter. Vanguard Group Inc. now owns 3,348,549 shares of the biopharmaceutical company’s stock worth $9,242,000 after buying an additional 340,614 shares during the period. JPMorgan Chase & Co. lifted its position in Catalyst Pharmaceuticals by 1,833.2% during the second quarter. JPMorgan Chase & Co. now owns 1,536,300 shares of the biopharmaceutical company’s stock worth $4,240,000 after buying an additional 1,456,830 shares during the period. State Street Corp lifted its position in Catalyst Pharmaceuticals by 1,971.1% during the second quarter. State Street Corp now owns 938,195 shares of the biopharmaceutical company’s stock worth $2,590,000 after buying an additional 892,895 shares during the period. Kennedy Capital Management Inc. lifted its position in Catalyst Pharmaceuticals by 298.5% during the second quarter. Kennedy Capital Management Inc. now owns 918,438 shares of the biopharmaceutical company’s stock worth $2,535,000 after buying an additional 687,938 shares during the period. Finally, Northern Trust Corp lifted its position in Catalyst Pharmaceuticals by 620.9% during the second quarter. Northern Trust Corp now owns 802,566 shares of the biopharmaceutical company’s stock worth $2,215,000 after buying an additional 691,238 shares during the period. Hedge funds and other institutional investors own 34.75% of the company’s stock.

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About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.

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