Catalyst Pharmaceuticals initiated with a Buy at Citi

Citi analyst Samantha Semenkow initiated coverage of Catalyst Pharmaceuticals with a Buy rating and $27 price target. Catalyst is a commercial biotech focused on rare disease markets and its flagship product, Firdapse, has the potential to achieve peak sales of $500M in the ultra-rare indication of Lambert-Eaton myasthenic syndrome, the analyst tells investors in a research note. The firm says the company has built a robust patient finding network that has steadily converted a portion of identified patients onto the drug, providing consistent revenue growth.