Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $2.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 17.92% from the stock’s current price.

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.”

Several other analysts also recently commented on CPRX. Roth Capital set a $3.00 target price on Catalyst Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, March 20th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a research note on Monday, March 20th.

Shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) traded down 1.42% during midday trading on Monday, reaching $2.09. The company’s stock had a trading volume of 606,662 shares. The stock has a 50-day moving average price of $1.82 and a 200-day moving average price of $1.35. The stock’s market cap is $175.11 million. Catalyst Pharmaceuticals has a 52-week low of $0.57 and a 52-week high of $2.35.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Equities research analysts anticipate that Catalyst Pharmaceuticals will post ($0.26) earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Catalyst Pharmaceuticals by 0.3% in the first quarter. Geode Capital Management LLC now owns 462,677 shares of the biopharmaceutical company’s stock valued at $902,000 after buying an additional 1,446 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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. Vanguard Group Inc. boosted its position in Catalyst Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,007,935 shares of the biopharmaceutical company’s stock valued at $5,865,000 after buying an additional 15,600 shares during the last quarter. Oxford Asset Management boosted its position 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. Finally, Berson & Corrado Investment Advisors LLC boosted its position 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. 28.13% of the stock is currently owned by hedge funds and other institutional investors.

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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