Insider Selling: Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Sells $1,096,500.00 in Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) insider Steve Miller sold 50,000 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares in the company, valued at approximately $15,065,822.28. This represents a 6.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock opened at $21.38 on Friday. The firm has a 50 day moving average price of $21.62 and a 200 day moving average price of $19.14. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The company has a market capitalization of $2.55 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in Catalyst Pharmaceuticals by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 59,164 shares of the biopharmaceutical company’s stock valued at $1,221,000 after acquiring an additional 1,967 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth about $667,000. Hohimer Wealth Management LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth about $329,000. Vestcor Inc boosted its stake in shares of Catalyst Pharmaceuticals by 18.4% in the third quarter. Vestcor Inc now owns 60,431 shares of the biopharmaceutical company’s stock valued at $1,201,000 after purchasing an additional 9,379 shares during the period. Finally, Barclays PLC grew its holdings in shares of Catalyst Pharmaceuticals by 129.4% in the third quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company’s stock valued at $4,939,000 after purchasing an additional 140,129 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens started coverage on shares of Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Truist Financial lifted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $31.14.

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.