Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 1.9% – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price rose 1.9% during trading on Friday . The stock traded as high as $23.80 and last traded at $23.61. Approximately 316,473 shares were traded during trading, a decline of 70% from the average daily volume of 1,041,931 shares. The stock had previously closed at $23.16.

Analysts Set New Price Targets

CPRX has been the topic of several recent research reports. Bank of America reiterated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $32.50.

Catalyst Pharmaceuticals Stock Performance

The company has a market cap of $2.94 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The firm’s 50 day moving average price is $22.34 and its two-hundred day moving average price is $21.58.

Insider Transactions at Catalyst Pharmaceuticals

In related news, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. The trade was a 25.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 33,888 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Catalyst Pharmaceuticals by 13.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after buying an additional 50,888 shares during the period. Wellington Management Group LLP bought a new stake in shares of Catalyst Pharmaceuticals during the third quarter valued at about $1,185,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at about $1,273,000. Finally, Spire Wealth Management increased its position in shares of Catalyst Pharmaceuticals by 1,342.9% during the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 13,429 shares during the period. 79.22% of the stock is owned by hedge funds and other institutional investors.

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.