Catalyst Pharmaceuticals’ (CPRX) Buy Rating Reiterated at Bank of America

Bank of America reaffirmed their buy rating on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) in a research note released on Thursday,Benzinga reports. Bank of America currently has a $30.00 price target on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on CPRX. Truist Financial raised their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Finally, Stephens started coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.14.

Catalyst Pharmaceuticals Stock Up 16.7 %

CPRX stock opened at $22.80 on Thursday. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 3.35 and a beta of 0.79. The business has a fifty day simple moving average of $21.75 and a 200-day simple moving average of $19.88. Catalyst Pharmaceuticals has a 52 week low of $13.12 and a 52 week high of $24.27.

Insider Activity

In other news, insider Gary Ingenito sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the transaction, the insider now directly owns 51,391 shares in the company, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 681 shares in the last quarter. nVerses Capital LLC acquired a new stake in Catalyst Pharmaceuticals during the third quarter valued at approximately $50,000. Larson Financial Group LLC raised its stake in Catalyst Pharmaceuticals by 27,218.2% during the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 2,994 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Catalyst Pharmaceuticals during the 2nd quarter worth approximately $70,000. Finally, Quantbot Technologies LP acquired a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter worth approximately $151,000. 79.22% of the stock is owned by institutional investors and hedge funds.

About Catalyst Pharmaceuticals

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.