Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to Buy at StockNews.com

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also recently commented on CPRX. Truist Financial increased their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Finally, Stephens started coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $31.14.

Catalyst Pharmaceuticals Trading Up 0.1 %

NASDAQ CPRX traded up $0.02 on Tuesday, hitting $21.62. 247,349 shares of the company were exchanged, compared to its average volume of 1,163,915. The company has a market cap of $2.58 billion, a P/E ratio of 18.32, a P/E/G ratio of 3.35 and a beta of 0.75. Catalyst Pharmaceuticals has a 1-year low of $13.12 and a 1-year high of $24.27. The firm has a 50 day moving average of $21.80 and a two-hundred day moving average of $19.46.

Insider Buying and Selling

In related news, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 $15,065,822.28. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock valued at $1,754,140 over the last three months. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRX. Pacer Advisors Inc. increased its position in shares of Catalyst Pharmaceuticals by 130,918.8% during the second quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock worth $45,968,000 after acquiring an additional 2,965,310 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Catalyst Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock worth $33,702,000 after purchasing an additional 287,300 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Catalyst Pharmaceuticals by 245.4% in the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock valued at $7,990,000 after purchasing an additional 285,564 shares during the period. Integral Health Asset Management LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at about $4,260,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Catalyst Pharmaceuticals by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock valued at $46,479,000 after purchasing an additional 263,099 shares in the last quarter. 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.