Catalyst Pharmaceuticals (NASDAQ:CPRX) Given New $32.00 Price Target at Robert W. Baird

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its price objective upped by Robert W. Baird from $28.00 to $32.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other research firms have also commented on CPRX. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Bank of America reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Truist Financial boosted their price objective 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. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Finally, Baird R W raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.50.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX opened at $21.89 on Monday. Catalyst Pharmaceuticals has a one year low of $14.47 and a one year high of $24.64. The company’s 50-day simple moving average is $22.27 and its 200 day simple moving average is $21.49. The firm has a market capitalization of $2.66 billion, a P/E ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.80.

Insiders Place Their Bets

In other news, insider Steve Miller sold 50,000 shares of the business’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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its holdings in Catalyst Pharmaceuticals by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 580 shares during the last quarter. Bank of Montreal Can increased its holdings in Catalyst Pharmaceuticals by 6.2% during the fourth quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 875 shares during the last quarter. Rhumbline Advisers increased its holdings in Catalyst Pharmaceuticals by 0.3% during the fourth quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock valued at $6,518,000 after buying an additional 952 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Catalyst Pharmaceuticals by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock valued at $740,000 after buying an additional 1,000 shares during the last quarter. Finally, PDT Partners LLC boosted its position in shares of Catalyst Pharmaceuticals by 5.2% in the fourth quarter. PDT Partners LLC now owns 20,664 shares of the biopharmaceutical company’s stock worth $431,000 after purchasing an additional 1,030 shares during the period. 79.22% of the stock is owned by hedge funds and other institutional investors.

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.