Catalyst Pharmaceuticals (NASDAQ:CPRX) Given New $31.00 Price Target at Citigroup

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its target price raised by Citigroup from $27.00 to $31.00 in a report published on Friday morning, Benzinga reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

CPRX has been the subject of several other reports. HC Wainwright restated a buy rating and set a $26.00 target price on shares of Catalyst Pharmaceuticals in a report on Monday, June 3rd. Oppenheimer restated an outperform rating and set a $29.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, June 6th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a hold rating to a buy rating in a report on Friday, June 7th. Finally, Truist Financial raised their target price on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a buy rating in a report on Friday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $28.83.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock traded up $0.18 during midday trading on Friday, reaching $18.48. The company’s stock had a trading volume of 2,888,357 shares, compared to its average volume of 1,290,174. Catalyst Pharmaceuticals has a fifty-two week low of $11.55 and a fifty-two week high of $18.99. The stock’s 50 day simple moving average is $16.14 and its 200 day simple moving average is $15.60. The firm has a market capitalization of $2.18 billion, a PE ratio of 34.22 and a beta of 0.70.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Catalyst Pharmaceuticals had a return on equity of 25.08% and a net margin of 15.83%. The company had revenue of $98.51 million during the quarter, compared to the consensus estimate of $97.24 million. Equities analysts predict that Catalyst Pharmaceuticals will post 1.63 earnings per share for the current year.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Carmen Jeffrey Del sold 7,541 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $16.07, for a total value of $121,183.87. Following the completion of the sale, the insider now directly owns 18,427 shares in the company, valued at $296,121.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 80,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $16.16, for a total transaction of $1,292,800.00. Following the transaction, the insider now directly owns 51,391 shares of the company’s stock, valued at $830,478.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Carmen Jeffrey Del sold 7,541 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $16.07, for a total transaction of $121,183.87. Following the transaction, the insider now directly owns 18,427 shares in the company, valued at $296,121.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,197 shares of company stock worth $1,777,560. 11.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates lifted its position in shares of Catalyst Pharmaceuticals by 4.2% during the fourth quarter. Raymond James & Associates now owns 50,279 shares of the biopharmaceutical company’s stock worth $845,000 after purchasing an additional 2,045 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Catalyst Pharmaceuticals by 306.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,079 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 3,829 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Catalyst Pharmaceuticals by 11.5% during the fourth quarter. Cerity Partners LLC now owns 17,231 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 1,780 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $842,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $31,000. 79.22% of the stock is owned by institutional investors and hedge funds.

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.