Bank of America Reaffirms Buy Rating for Catalyst Pharmaceuticals (NASDAQ:CPRX)

Catalyst Pharmaceuticals (NASDAQ:CPRX)‘s stock had its “buy” rating restated by investment analysts at Bank of America in a research note issued on Thursday,Benzinga reports. They presently have a $30.00 target price on the biopharmaceutical company’s stock. Bank of America‘s price target suggests a potential upside of 31.58% from the stock’s previous close.

Several other research analysts have also commented on CPRX. Truist Financial increased 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. Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $32.14.

Catalyst Pharmaceuticals Stock Performance

NASDAQ:CPRX traded up $3.27 during trading hours on Thursday, hitting $22.80. 3,087,861 shares of the company’s stock traded hands, compared to its average volume of 1,496,892. Catalyst Pharmaceuticals has a twelve month low of $13.12 and a twelve month high of $24.27. The firm has a market cap of $2.72 billion, a P/E ratio of 19.32, a P/E/G ratio of 3.35 and a beta of 0.79. The stock’s fifty day moving average price is $21.72 and its two-hundred day moving average price is $19.86.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Ingenito sold 12,000 shares of the 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 $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Catalyst Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings 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 during the period. 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. Institutional investors and hedge funds own 79.22% of the company’s stock.

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.