Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Sees Large Growth in Short Interest

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 6,680,000 shares, a growth of 12.5% from the December 31st total of 5,940,000 shares. Based on an average daily volume of 975,100 shares, the short-interest ratio is currently 6.9 days.

Wall Street Analysts Forecast Growth

CPRX has been the subject of a number of recent research reports. HC Wainwright boosted 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, January 10th. Truist Financial boosted 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. Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens initiated coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Finally, StockNews.com cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and an average price target of $32.86.

Insider Buying and Selling

In other news, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total transaction of $272,640.00. Following the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. This trade represents a 18.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,500 shares of company stock valued at $1,754,140. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the third quarter valued at $50,000. Larson Financial Group LLC grew its stake in Catalyst Pharmaceuticals by 27,218.2% during the 3rd 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Catalyst Pharmaceuticals during the 4th quarter worth $65,000. Finally, KBC Group NV increased its holdings in shares of Catalyst Pharmaceuticals by 48.8% in the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,542 shares during the last quarter. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

CPRX stock traded up $0.06 on Monday, reaching $22.62. The company’s stock had a trading volume of 1,218,631 shares, compared to its average volume of 1,468,708. The firm has a market cap of $2.70 billion, a PE ratio of 19.17, a PEG ratio of 2.25 and a beta of 0.80. The business has a fifty day simple moving average of $22.01 and a two-hundred day simple moving average of $20.79. Catalyst Pharmaceuticals has a 12-month low of $13.12 and a 12-month high of $24.64.

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.