Short Interest in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Declines By 5.5%

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 5,680,000 shares, a decrease of 5.5% from the October 31st total of 6,010,000 shares. Based on an average daily volume of 946,800 shares, the short-interest ratio is presently 6.0 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CPRX. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Stephens initiated coverage on shares of Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Truist Financial boosted their target price 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. Finally, Citigroup raised their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX opened at $22.53 on Tuesday. Catalyst Pharmaceuticals has a 12 month low of $13.00 and a 12 month high of $24.27. The firm has a market capitalization of $2.69 billion, a P/E ratio of 19.09, a P/E/G ratio of 3.40 and a beta of 0.75. The company’s fifty day moving average price is $21.30 and its 200 day moving average price is $18.83.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value 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. The trade was a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Molly Harper sold 17,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently made changes to their positions in CPRX. Franklin Resources Inc. boosted its position in shares of Catalyst Pharmaceuticals by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 59,164 shares of the biopharmaceutical company’s stock valued at $1,221,000 after purchasing an additional 1,967 shares during the period. Sanctuary Advisors LLC purchased a new stake in Catalyst Pharmaceuticals in the third quarter valued at approximately $667,000. Hohimer Wealth Management LLC acquired a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at $329,000. Vestcor Inc raised its position in Catalyst Pharmaceuticals by 18.4% in the 3rd quarter. Vestcor Inc now owns 60,431 shares of the biopharmaceutical company’s stock valued at $1,201,000 after purchasing an additional 9,379 shares during the last quarter. Finally, Barclays PLC boosted its stake in Catalyst Pharmaceuticals by 129.4% during the 3rd quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company’s stock worth $4,939,000 after purchasing an additional 140,129 shares during the period. Hedge funds and other institutional investors 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.