Catalyst Pharmaceutical (CPRX) PT Lifted to $7 at Piper Jaffray on Upcoming Catalysts

February 17, 2015 6:53 AM EST
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Price: $7.00 --0%

Rating Summary:
    8 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 5 | New: 3
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Piper Jaffray analyst Charles C. Duncan reiterated an Overweight rating on Catalyst Pharmaceutical Partners (NASDAQ: CPRX) and boosted his price target to $7.00 (from $5.00) citing strengthened cash and regulatory catalysts which bode well for 2015.

Duncan commented, "Catalyst recently completed a financing netting approximately $34.7M through the sale of 11.5M shares. The company also provided an update on its discussions with the FDA and it had previously opened an expanded access program that went beyond our expectations to include only LEMS patients. As a result, we are now sufficiently confident in an approved label that may include congenital myasthenic syndrome (CMS), either specifically or due to a broader indication description, that we have now added CMS to our model. We look for increasing visibility in physician impressions and patient experience across multiple severe muscle weakness disorders from the expanded access program later in 2015, as it includes LEMs, CMS and nystagmus patients. Based, in part, on these changes and enhanced conviction in regulatory newsflow in 2015, we are increasing our price target to $7 and reiterate our Overweight rating.'

For an analyst ratings summary and ratings history on Catalyst Pharmaceutical Partners click here. For more ratings news on Catalyst Pharmaceutical Partners click here.

Shares of Catalyst Pharmaceutical Partners closed at $3.36 yesterday.

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Piper Jaffray, Charles Duncan