Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to Buy at StockNews.com

StockNews.com cut shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

A number of other analysts have also issued reports on CPRX. Stephens assumed coverage on Catalyst Pharmaceuticals in a report on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price on the stock. Truist Financial increased their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock opened at $21.91 on Tuesday. Catalyst Pharmaceuticals has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The firm has a fifty day moving average price of $21.80 and a two-hundred day moving average price of $19.47. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 3.35 and a beta of 0.75.

Insider Buying and Selling

In related news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the sale, the insider now owns 686,996 shares of the company’s stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock valued at $1,754,140 over the last ninety days. 11.00% of the stock is owned by company insiders.

Institutional Trading of Catalyst Pharmaceuticals

Several institutional investors have recently bought and sold shares of CPRX. JPMorgan Chase & Co. lifted its holdings in shares of Catalyst Pharmaceuticals by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after acquiring an additional 33,888 shares during the period. Franklin Resources Inc. increased its position in shares of Catalyst Pharmaceuticals by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,164 shares of the biopharmaceutical company’s stock worth $1,221,000 after purchasing an additional 1,967 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Catalyst Pharmaceuticals during the 3rd quarter valued at about $667,000. Hohimer Wealth Management LLC bought a new position in Catalyst Pharmaceuticals during the 3rd quarter valued at about $329,000. Finally, Vestcor Inc boosted its position in Catalyst Pharmaceuticals by 18.4% in the third quarter. Vestcor Inc now owns 60,431 shares of the biopharmaceutical company’s stock valued at $1,201,000 after buying an additional 9,379 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.