Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Receives Consensus Rating of “Buy” from Brokerages

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.86.

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens started coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 target price for the company. HC Wainwright upped their price target on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. StockNews.com lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Finally, Bank of America reissued a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th.

Insiders Place Their Bets

In related news, Director Molly Harper sold 17,500 shares of the 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steve Miller sold 50,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 approximately $15,065,822.28. This trade represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,500 shares of company stock valued at $1,754,140. Corporate insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. abrdn plc bought a new position in Catalyst Pharmaceuticals in the fourth quarter valued at about $10,115,000. Spire Wealth Management increased its position in shares of Catalyst Pharmaceuticals by 1,342.9% during the 4th quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 13,429 shares during the last quarter. EMC Capital Management lifted its stake in shares of Catalyst Pharmaceuticals by 509.7% in the 4th quarter. EMC Capital Management now owns 14,761 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 12,340 shares during the period. Nilsine Partners LLC purchased a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth approximately $700,000. Finally, Pacer Advisors Inc. grew its position in Catalyst Pharmaceuticals by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock valued at $61,681,000 after buying an additional 151,495 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Trading Up 0.2 %

CPRX opened at $22.55 on Friday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79. The stock has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $20.49. Catalyst Pharmaceuticals has a 12-month low of $13.12 and a 12-month high of $24.27.

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.