Catalyst Pharmaceuticals (NASDAQ:CPRX) Sets New 1-Year High – What’s Next?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $22.27 and last traded at $22.05, with a volume of 348816 shares traded. The stock had previously closed at $21.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CPRX shares. Citigroup increased their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial lifted their price target on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright raised their price objective on shares of Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $29.50.

Catalyst Pharmaceuticals Trading Up 0.6 %

The firm has a market cap of $2.60 billion, a P/E ratio of 40.87, a P/E/G ratio of 3.44 and a beta of 0.76. The business’s 50-day moving average is $20.47 and its two-hundred day moving average is $17.77.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.13. The business had revenue of $122.71 million for the quarter, compared to the consensus estimate of $111.76 million. Catalyst Pharmaceuticals had a return on equity of 27.77% and a net margin of 15.69%. On average, analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Steve Miller sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the completion of the transaction, the insider now directly owns 675,124 shares in the company, valued at approximately $13,738,773.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Steve Miller sold 150,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the sale, the insider now directly owns 675,124 shares in the company, valued at $13,738,773.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carmen Jeffrey Del sold 36,058 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $18.42, for a total transaction of $664,188.36. Following the completion of the sale, the insider now directly owns 12,369 shares of the company’s stock, valued at $227,836.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,058 shares of company stock worth $4,018,188. Insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of Catalyst Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock worth $461,000 after buying an additional 654 shares in the last quarter. GAMMA Investing LLC raised its position in Catalyst Pharmaceuticals by 62.1% in the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 681 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Catalyst Pharmaceuticals by 6.9% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,116 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 720 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Catalyst Pharmaceuticals by 7.5% during the 2nd quarter. XTX Topco Ltd now owns 11,134 shares of the biopharmaceutical company’s stock valued at $172,000 after purchasing an additional 773 shares in the last quarter. Finally, Strategic Advocates LLC grew its stake in shares of Catalyst Pharmaceuticals by 6.5% in the 2nd quarter. Strategic Advocates LLC now owns 14,142 shares of the biopharmaceutical company’s stock worth $219,000 after purchasing an additional 864 shares during the last quarter. 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.