Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 2.7%

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price shot up 2.7% on Tuesday . The stock traded as high as $20.53 and last traded at $20.52. 265,652 shares were traded during trading, a decline of 79% from the average session volume of 1,287,140 shares. The stock had previously closed at $19.99.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CPRX shares. HC Wainwright lifted their target price on shares of Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Oppenheimer reiterated an “outperform” rating and issued a $29.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, June 6th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Truist Financial lifted their price target on Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Citigroup increased their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $29.50.

Catalyst Pharmaceuticals Stock Up 1.3 %

The firm has a fifty day moving average of $16.79 and a 200-day moving average of $15.90. The firm has a market cap of $2.45 billion, a P/E ratio of 38.41 and a beta of 0.70.

Insiders Place Their Bets

In other news, insider Steve Miller sold 150,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total value of $3,052,500.00. Following the transaction, the insider now directly owns 675,124 shares in the company, valued at approximately $13,738,773.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Catalyst Pharmaceuticals news, insider Carmen Jeffrey Del sold 36,058 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $18.42, for a total value of $664,188.36. Following the completion of the sale, the insider now directly owns 12,369 shares in the company, valued at $227,836.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steve Miller sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the completion of the sale, the insider now owns 675,124 shares in the company, valued at $13,738,773.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 296,255 shares of company stock valued at $5,494,248. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of large investors have recently bought and sold shares of CPRX. Vanguard Group Inc. increased its position in Catalyst Pharmaceuticals by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 7,980,661 shares of the biopharmaceutical company’s stock worth $127,212,000 after buying an additional 860,244 shares during the period. Dimensional Fund Advisors LP raised its stake in Catalyst Pharmaceuticals by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock worth $46,479,000 after purchasing an additional 263,099 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Catalyst Pharmaceuticals by 130,918.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after purchasing an additional 2,965,310 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Catalyst Pharmaceuticals by 139.5% during the first quarter. Janus Henderson Group PLC now owns 2,726,388 shares of the biopharmaceutical company’s stock worth $43,445,000 after purchasing an additional 1,587,794 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Catalyst Pharmaceuticals by 15.2% in the second quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock valued at $33,702,000 after buying an additional 287,300 shares in the last quarter. Institutional investors and hedge funds 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.