Catalyst Pharmaceuticals (NASDAQ:CPRX) Hits New 12-Month High – Still a Buy?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $24.98 and last traded at $24.85, with a volume of 3700 shares changing hands. The stock had previously closed at $24.23.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPRX shares. Stephens reaffirmed an “overweight” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Bank of America reissued a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Baird R W raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Robert W. Baird increased their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.29.

Catalyst Pharmaceuticals Stock Performance

The stock has a market cap of $3.12 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The company’s 50-day moving average price is $22.53 and its 200 day moving average price is $21.72.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the sale, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction that occurred on 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 owns 68,873 shares in the company, valued at approximately $1,521,404.57. This 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 Trading of Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in Catalyst Pharmaceuticals during the 4th quarter valued at about $29,000. Farther Finance Advisors LLC grew its position in Catalyst Pharmaceuticals by 125.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,495 shares in the last quarter. Larson Financial Group LLC increased its stake in Catalyst Pharmaceuticals by 27,218.2% during the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,994 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $65,000. Hedge funds and other 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.