Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 5.4% – Time to Buy?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares rose 5.4% on Wednesday . The company traded as high as $23.75 and last traded at $24.08. Approximately 164,218 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,473,637 shares. The stock had previously closed at $22.84.

Analysts Set New Price Targets

CPRX has been the topic of a number of analyst reports. HC Wainwright lifted their price objective on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. Truist Financial lifted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Stephens started coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, StockNews.com downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Trading Up 4.3 %

The stock’s 50-day moving average is $21.86 and its 200-day moving average is $20.61. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.28 and a beta of 0.79.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the sale, the insider now owns 51,391 shares of the company’s stock, valued at $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Molly Harper sold 17,500 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock valued at $1,754,140 over the last quarter. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CPRX. JPMorgan Chase & Co. lifted its holdings in Catalyst Pharmaceuticals by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock worth $8,116,000 after buying an additional 33,888 shares during the last quarter. Wellington Management Group LLP bought a new position in Catalyst Pharmaceuticals during the 3rd quarter worth approximately $1,185,000. Redhawk Wealth Advisors Inc. bought a new position in Catalyst Pharmaceuticals during the 4th quarter worth approximately $1,273,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth approximately $258,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth approximately $625,000. 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.