Catalyst Pharmaceuticals (NASDAQ:CPRX) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

A number of other equities analysts have also issued reports on CPRX. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Truist Financial upped their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.14.

Catalyst Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ CPRX opened at $21.91 on Tuesday. Catalyst Pharmaceuticals has a 12-month low of $13.12 and a 12-month high of $24.27. The firm’s 50-day simple moving average is $21.80 and its 200 day simple moving average is $19.47. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75.

Insider Activity

In related news, Director Molly Harper sold 17,500 shares of Catalyst Pharmaceuticals 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the completion of the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock valued at $1,754,140 in the last 90 days. 11.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Catalyst Pharmaceuticals by 130,918.8% in the second quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after buying an additional 2,965,310 shares in the last quarter. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 287,300 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Catalyst Pharmaceuticals by 245.4% during the third quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock worth $7,990,000 after buying an additional 285,564 shares during the period. Integral Health Asset Management LLC bought a new position in shares of Catalyst Pharmaceuticals during the second quarter worth about $4,260,000. Finally, Dimensional Fund Advisors LP raised its position 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 valued at $46,479,000 after buying an additional 263,099 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

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.