Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Gap Up – Here’s What Happened

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) gapped up before the market opened on Thursday . The stock had previously closed at $20.58, but opened at $22.32. Catalyst Pharmaceuticals shares last traded at $22.61, with a volume of 323,057 shares.

Analysts Set New Price Targets

Several equities research analysts recently commented on CPRX shares. Robert W. Baird initiated coverage on Catalyst Pharmaceuticals in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $28.00 price target for the company. StockNews.com lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Bank of America restated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial boosted their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.00.

Catalyst Pharmaceuticals Price Performance

The firm’s fifty day moving average is $22.21 and its two-hundred day moving average is $21.40. The firm has a market capitalization of $2.57 billion, a PE ratio of 18.25, a PEG ratio of 3.31 and a beta of 0.80.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the completion of the transaction, the insider now directly owns 686,996 shares in the company, valued at approximately $15,065,822.28. This represents a 6.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. lifted its position in Catalyst Pharmaceuticals by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 580 shares during the period. Bank of Montreal Can increased its holdings in Catalyst Pharmaceuticals by 6.2% in the 4th quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company’s stock worth $311,000 after buying an additional 875 shares in the last quarter. Rhumbline Advisers raised its position in Catalyst Pharmaceuticals by 0.3% in the fourth quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock worth $6,518,000 after acquiring an additional 952 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Catalyst Pharmaceuticals by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock worth $740,000 after purchasing an additional 1,000 shares in the last quarter. Finally, PDT Partners LLC boosted its position in shares of Catalyst Pharmaceuticals by 5.2% during the fourth quarter. PDT Partners LLC now owns 20,664 shares of the biopharmaceutical company’s stock worth $431,000 after acquiring an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

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.