Zacks Investment Research upgraded shares of Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) from a hold rating to a buy rating in a research note issued to investors on Monday. Zacks Investment Research currently has $2.50 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Catalyst reported in line loss in the first quarter of 2017. Catalyst has reached an agreement with the FDA on a Special Protocol Assessment (SPA) for its second phase III study on Firdapse for the treatment of LEMS. Positive data would allow the company to resubmit the regulatory application for Firdapse in the second half of 2017. The company released topline data from the phase II/III trial on Firdapse for the symptomatic treatment of MuSK-antibody positive MG that showed statistically significant results and showed a large clinical benefit to patients. The shares of the company rose following this news. The company’s share price movement shows that the stock has outperformed the Zacks classified Medical-Drugs industry year to date. However, Catalyst is highly dependent on Firdapse’s approval for growth. The company suffered a setback when it received a refusal to file letter for Firdapse from the FDA.”
A number of other analysts have also commented on the stock. HC Wainwright restated a buy rating and set a $6.00 price target on shares of Catalyst Pharmaceuticals in a research note on Monday, March 20th. Roth Capital set a $3.00 price target on shares of Catalyst Pharmaceuticals and gave the company a buy rating in a research note on Monday, March 20th.
Catalyst Pharmaceuticals (NASDAQ:CPRX) opened at 2.17 on Monday. The company has a 50-day moving average of $1.85 and a 200-day moving average of $1.39. Catalyst Pharmaceuticals has a 52-week low of $0.59 and a 52-week high of $2.35. The company’s market cap is $181.82 million.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.06). On average, equities research analysts expect that Catalyst Pharmaceuticals will post ($0.26) earnings per share for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. Oxford Asset Management raised its stake in Catalyst Pharmaceuticals by 138.1% in the first quarter. Oxford Asset Management now owns 58,940 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 34,181 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Catalyst Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 69,176 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 2,404 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Catalyst Pharmaceuticals during the first quarter valued at about $155,000. Berson & Corrado Investment Advisors LLC raised its stake in Catalyst Pharmaceuticals by 31.7% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 251,025 shares of the biopharmaceutical company’s stock valued at $489,000 after buying an additional 60,425 shares during the last quarter. Finally, Knott David M purchased a new stake in Catalyst Pharmaceuticals during the first quarter valued at about $554,000. Hedge funds and other institutional investors own 28.13% of the company’s stock.
Catalyst Pharmaceuticals Company Profile
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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