Catalyst Pharmaceuticals (NASDAQ:CPRX) Sets New 1-Year High – What’s Next?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $22.27 and last traded at $22.05, with a volume of 348816 shares changing hands. The stock had previously closed at $21.80.

Wall Street Analysts Forecast Growth

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

Catalyst Pharmaceuticals Stock Up 0.6 %

The stock has a market capitalization of $2.60 billion, a PE ratio of 40.87, a P/E/G ratio of 3.44 and a beta of 0.76. The stock’s 50-day moving average is $20.47 and its 200 day moving average is $17.77.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.39 by $0.13. Catalyst Pharmaceuticals had a net margin of 15.69% and a return on equity of 27.77%. The business had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $111.76 million. As a group, equities research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.82 EPS for the current year.

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 shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the sale, the insider now owns 675,124 shares in the company, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Carmen Jeffrey Del sold 36,058 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $18.42, for a total transaction of $664,188.36. Following the sale, the insider now directly owns 12,369 shares in the company, valued at approximately $227,836.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 675,124 shares of the company’s stock, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,058 shares of company stock valued at $4,018,188 in the last quarter. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Catalyst Pharmaceuticals by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 7,120,417 shares of the biopharmaceutical company’s stock worth $119,694,000 after purchasing an additional 73,930 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the 1st quarter valued at $426,000. State of Alaska Department of Revenue raised its position in shares of Catalyst Pharmaceuticals by 10.4% during the first quarter. State of Alaska Department of Revenue now owns 68,038 shares of the biopharmaceutical company’s stock worth $1,084,000 after acquiring an additional 6,386 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Catalyst Pharmaceuticals by 10.5% during the first quarter. Maryland State Retirement & Pension System now owns 40,262 shares of the biopharmaceutical company’s stock valued at $635,000 after acquiring an additional 3,840 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in Catalyst Pharmaceuticals in the first quarter valued at about $360,000. 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.