5 Biotech Stocks With The Biggest Upside

4. Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Number of Hedge Fund Holders: 18     

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) is a commercial-stage biopharmaceutical company that focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. On September 29, Catalyst Pharmaceuticals, Inc. revealed that the US Food and Drug Administration has approved the supplemental New Drug Application to expand the indicated age range for FIRDAPSE (amifampridine) Tablets 10 mg to include pediatric patients six years of age and older for the treatment of Lambert-Eaton myasthenic syndrome.

On November 10, Piper Sandler analyst Joseph Catanzaro maintained an Overweight rating on Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) stock and raised the price target to $18 from $16, noting that the company reported third-quarter Firdapse revenues of $57.2 million, well ahead of consensus, and increased Firdapse revenue guidance to $205 million-$210 million.

At the end of the third quarter of 2022, 18 hedge funds in the database of Insider Monkey held stakes worth $189 million in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX), compared to 16 in the preceding quarter worth $138.3 million.