HC Wainwright Reaffirms “Buy” Rating for Catalyst Pharmaceuticals (NASDAQ:CPRX)

Catalyst Pharmaceuticals (NASDAQ:CPRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $35.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price would indicate a potential upside of 52.91% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Truist Financial upped their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Bank of America restated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Finally, Robert W. Baird assumed coverage on shares of Catalyst Pharmaceuticals in a research report on Tuesday, February 4th. They set an “outperform” rating and a $28.00 price target for the company. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.00.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $22.89 on Friday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80. Catalyst Pharmaceuticals has a 1-year low of $14.47 and a 1-year high of $24.64. The company’s fifty day moving average is $22.24 and its two-hundred day moving average is $21.43.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Steve Miller sold 50,000 shares of the 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 completion of the transaction, the insider now owns 686,996 shares in the company, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. boosted its position in shares of Catalyst Pharmaceuticals by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 580 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Catalyst Pharmaceuticals by 6.2% during the 4th quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 875 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Catalyst Pharmaceuticals by 0.3% during the 4th quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock valued at $6,518,000 after purchasing an additional 952 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Catalyst Pharmaceuticals by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock valued at $740,000 after purchasing an additional 1,000 shares in the last quarter. Finally, PDT Partners LLC boosted its position in shares of Catalyst Pharmaceuticals by 5.2% during the 4th quarter. PDT Partners LLC now owns 20,664 shares of the biopharmaceutical company’s stock valued at $431,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

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.