Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 1.9% – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares shot up 1.9% during trading on Friday . The stock traded as high as $23.80 and last traded at $23.61. 316,473 shares were traded during trading, a decline of 70% from the average session volume of 1,041,931 shares. The stock had previously closed at $23.16.

Analyst Ratings Changes

A number of brokerages have commented on CPRX. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Robert W. Baird increased their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Finally, Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $32.50.

Catalyst Pharmaceuticals Trading Up 4.4 %

The business’s 50 day moving average price is $22.34 and its 200-day moving average price is $21.58. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.31 and a beta of 0.84.

Insider Buying and Selling

In related news, insider Gary Ingenito sold 44,904 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 188,564 shares in the company, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Catalyst Pharmaceuticals by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after purchasing an additional 33,888 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Catalyst Pharmaceuticals by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after purchasing an additional 50,888 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at approximately $1,185,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter valued at approximately $1,273,000. Finally, Spire Wealth Management boosted its stake in shares of Catalyst Pharmaceuticals by 1,342.9% in the 4th quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 13,429 shares in the last quarter. 79.22% of the stock is currently 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.