CPRX - Is Catalyst Pharmaceuticals a Buy?
Like many biotech stocks, Catalyst Pharmaceuticals (NASDAQ: CPRX) has quickly rebounded from the low point it reached during the first quarter's pandemic-driven market plunge. The stock is up about 31% year-to-date, outperforming both the Virtus LifeSci Biotech Products ETF (up 6%) and the S&P 500 (down 11%).
The biopharma develops therapies for rare neuromuscular and neurological diseases, and last year was a turning point for the company. After receiving FDA approval in November 2018, it was able to launch Firdapse, a treatment for adults with Lambert-Eaton myasthenic syndrome (LEMS), an autoimmune disorder that occurs between nerve cells and muscles.
Considering how successful 2019 was for Catalyst Pharmaceuticals, can investors expect to see similar results this year and beyond?