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Summary

  • Analysts retained a ‘Buy’ rating on Catalyst Pharmaceuticals as it announced a partnership with Santhera Pharmaceuticals Holding.
  • The stock has a mean consensus price target of US$ 22.40 as on June 21, 2023.
  • Catalyst’s total revenue for the March 2023 quarter was US$ 85.37 million.

Catalyst Pharmaceuticals remained on the  ‘Buy’ list of analysts after it announced ia partnership with Santhera Pharmaceuticals Holding. Analysts have given a mean recommendation rating of 2.2 on CPRX post the announcement.

The agreement came days after the company released its financial results for Q2 2023. Catalyst has entered into the agreement with Santhera to deliver a potential therapy for Duchenne Muscular Dystrophy (DMD).

Data on EODHD/Others shows that five analysts have covered the stock, of which four have given it a ‘Buy’ rating while one analyst recommends holding the stock. The mean consensus price target on the stock is US$ 22.40 as on June 21, 2023.

CPRX Price Chart; Source: CPRX EODHD/Others

CPRX closed at US$ 12.62 on Tuesday, June 20, 2023. The stock hit its 52-week high of US$ 22.1 earlier this year on January 13, 2023.

Which analysts have given a ‘Buy’ rating on CPRX?

Cantor Fitzgerald reviewed its rating on CPRX on June 20, 2023, the same day that Catalyst announced its partnership with Santhera. The broker maintained an ‘Overweight’ rating on CPRX, with a price target of US$ 25. This target price indicates an upside potential of 98.1% on CPRX’s closing price on Tuesday.

Piper Sandler also retained an ‘Overweight’ rating on Catalyst, with a price target of US$ 24. Meanwhile, Truist Securities retained a ‘Buy’ rating on CPRX, with a similar price target of US$ 24.

Among other brokers, Roth MKM gave a ‘Neutral’ rating on Catalyst with a price target of US$ 15. HC Wainwright & Co gave a ‘Buy’ rating on the stock, with a price target of US$ 24.

Catalyst reaffirms its full year 2023 guidance

Earlier this month, Catalyst released an announcement stating that it is on track to achieve its 2023 full year total revenue guidance, which is between US$ 375 million and US$ 385 million. This would mark a 75% to 80% increase in total revenue over 2022.

Catalyst also confirmed its net income forecast for full year 2023 to be between US$ 195 million and US$ 205 million. Meanwhile, net product revenues for 2023 are expected to fall in the range of US$ 245 million and US$ 255 million. The mid-point of this range is a 17% increase year-over-year.

Image source: ©2023 Kalkine®; Data source: Company Reports

For the March 2023 quarter, Catalyst reported a total revenue of US$ 85.37 million. Net income for the quarter was US$ 29.57 million and EBITDA was US$ 43.91 million.