Catalyst Pharmaceuticals (NASDAQ:CPRX) has been given a $8.00 price target by stock analysts at Cantor Fitzgerald in a report released on Thursday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 177.78% from the company’s current price.
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).””
A number of other equities research analysts have also recently issued reports on CPRX. Oppenheimer assumed coverage on Catalyst Pharmaceuticals in a research note on Thursday, July 12th. They set a “buy” rating and a $6.00 price objective on the stock. BidaskClub upgraded Catalyst Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. ValuEngine cut Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. HC Wainwright set a $6.00 price target on Catalyst Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Finally, Zacks Investment Research cut Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Catalyst Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $5.71.
Shares of Catalyst Pharmaceuticals stock opened at $2.88 on Thursday. Catalyst Pharmaceuticals has a 12-month low of $2.18 and a 12-month high of $4.51. The company has a market cap of $323.19 million, a PE ratio of -13.71 and a beta of 2.05.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, research analysts forecast that Catalyst Pharmaceuticals will post -0.29 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Catalyst Pharmaceuticals by 3.2% in the 3rd quarter. BlackRock Inc. now owns 6,251,780 shares of the biopharmaceutical company’s stock valued at $23,633,000 after acquiring an additional 192,153 shares during the period. Bank of New York Mellon Corp raised its stake in Catalyst Pharmaceuticals by 12.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 308,580 shares of the biopharmaceutical company’s stock valued at $1,166,000 after acquiring an additional 33,767 shares during the period. JPMorgan Chase & Co. raised its stake in Catalyst Pharmaceuticals by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 989,080 shares of the biopharmaceutical company’s stock valued at $3,739,000 after acquiring an additional 86,692 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in Catalyst Pharmaceuticals by 152.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,900 shares of the biopharmaceutical company’s stock valued at $162,000 after acquiring an additional 25,940 shares during the period. Finally, Alps Advisors Inc. raised its stake in Catalyst Pharmaceuticals by 21.9% in the 3rd quarter. Alps Advisors Inc. now owns 181,555 shares of the biopharmaceutical company’s stock valued at $686,000 after acquiring an additional 32,661 shares during the period. Institutional investors and hedge funds own 51.48% of the company’s stock.
About Catalyst Pharmaceuticals
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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