Piper Sandler analyst Joseph Catanzaro made no change to the firm’s Overweight rating and $20 price target on Catalyst Pharmaceuticals (CPRX) shares. Catalyst on Monday received notice that Teva (TEVA) submitted an ANDA filing to the FDA for generic Firdapse, which "should not have come as a surprise," given Catalyst had been clear that an ANDA filing could have been pursued as early as November 2022, the analyst tells investors in a research note. While there is a moving target on the remaining exclusivity period, the firm believes there remains sufficient opportunity to continue to recognize a revenue stream that would allow Catalyst to continue to diversify away from Firdapse.
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