Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to Buy at StockNews.com

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Bank of America restated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday. 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 target price for the company. Truist Financial upped their target price on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, HC Wainwright lifted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Price Performance

CPRX stock opened at $21.92 on Friday. Catalyst Pharmaceuticals has a 1 year low of $13.12 and a 1 year high of $24.27. The company has a market cap of $2.61 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. The stock’s fifty day moving average price is $21.77 and its 200-day moving average price is $19.98.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steve Miller sold 50,000 shares of the stock in a transaction dated 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 sale, the insider now owns 686,996 shares of the company’s stock, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock valued at $1,754,140 over the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Catalyst Pharmaceuticals by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 681 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Catalyst Pharmaceuticals in the third quarter worth about $50,000. Larson Financial Group LLC increased its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% in 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 last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth approximately $70,000. Finally, Quantbot Technologies LP bought a new position in Catalyst Pharmaceuticals during the third quarter valued at $151,000. 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.