Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 13% – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price traded up 13% on Wednesday . The company traded as high as $24.00 and last traded at $22.06. 1,564,030 shares were traded during mid-day trading, an increase of 36% from the average session volume of 1,147,241 shares. The stock had previously closed at $19.53.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CPRX shares. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Truist Financial raised their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens started coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $31.14.

Catalyst Pharmaceuticals Trading Up 16.7 %

The stock’s fifty day moving average price is $21.72 and its 200 day moving average price is $19.86. The stock has a market cap of $2.72 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79.

Insider Activity at Catalyst Pharmaceuticals

In other news, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total transaction of $385,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Ingenito sold 12,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the transaction, the insider now directly owns 51,391 shares in the company, valued at $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock worth $1,754,140 in the last ninety days. 11.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 62.1% in the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares during the period. nVerses Capital LLC bought a new stake in shares of Catalyst Pharmaceuticals during the third quarter valued at approximately $50,000. Larson Financial Group LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 2,994 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Catalyst Pharmaceuticals during the second quarter valued at $70,000. Finally, Quantbot Technologies LP purchased a new position in shares of Catalyst Pharmaceuticals during the third quarter valued at about $151,000. Hedge funds and other institutional investors 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.