Cantor Fitzgerald Reiterates “$8.00” Price Target for Catalyst Pharmaceuticals (CPRX)

Catalyst Pharmaceuticals (NASDAQ:CPRX) has been assigned a $8.00 price target by analysts at Cantor Fitzgerald in a report released on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 177.78% from the stock’s previous close.

The analysts wrote, “. We reiterate our Overweight rating and $8 PT on CPRX. This morning BMO, Catalyst hosted an earnings call and reported 3Q18 expenses of $8.2M and cash & investments of $66.7M. Our model projects sufficient cash to fund operations through the anticipated Firdapse launch in 2019. Questions on the call centered on potential near-term Firdapse approval (PDUFA goal date Nov. 28), as well as go-to-market strategy, including patient access and pricing. Additionally, the company now plans to expand to the Canadian market (just announced).””

Other analysts have also issued reports about the company. Oppenheimer started coverage on Catalyst Pharmaceuticals in a report on Thursday, July 12th. They set a “buy” rating and a $6.00 target price on the stock. HC Wainwright set a $6.00 target price on Catalyst Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Zacks Investment Research raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Monday, August 13th. ValuEngine lowered Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, BidaskClub raised Catalyst Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.71.

CPRX opened at $2.88 on Thursday. The firm has a market cap of $323.19 million, a PE ratio of -13.71 and a beta of 2.05. Catalyst Pharmaceuticals has a 52-week low of $2.18 and a 52-week high of $4.51.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Research analysts anticipate that Catalyst Pharmaceuticals will post -0.29 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Catalyst Pharmaceuticals by 3.2% in the third quarter. BlackRock Inc. now owns 6,251,780 shares of the biopharmaceutical company’s stock valued at $23,633,000 after buying an additional 192,153 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Catalyst Pharmaceuticals by 12.3% in the third quarter. Bank of New York Mellon Corp now owns 308,580 shares of the biopharmaceutical company’s stock valued at $1,166,000 after buying an additional 33,767 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Catalyst Pharmaceuticals by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 989,080 shares of the biopharmaceutical company’s stock valued at $3,739,000 after buying an additional 86,692 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Catalyst Pharmaceuticals by 152.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,900 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 25,940 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in Catalyst Pharmaceuticals by 21.9% in the third quarter. Alps Advisors Inc. now owns 181,555 shares of the biopharmaceutical company’s stock valued at $686,000 after buying an additional 32,661 shares in the last quarter. 51.48% of the stock is currently owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. Its product candidates include Firdapse, a proprietary form of amifampridine phosphate that has completed Phase III clinical trials for the treatment of patients with lambert-eaton myasthenic syndrome; is in Phase III clinical trial to treat congenital myasthenic syndromes; and is in Phase III clinical trial for the treatment of anti-MuSK antibody positive myasthenia gravis, as well as is in Phase II clinical trial for patients with spinal muscular atrophy type 3.

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Analyst Recommendations for Catalyst Pharmaceuticals (NASDAQ:CPRX)

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