Catalyst Pharmaceuticals (NASDAQ:CPRX) Downgraded to Buy Rating by StockNews.com

StockNews.com downgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a buy rating in a research report released on Tuesday.

A number of other equities research analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Stephens began coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Truist Financial upped their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock opened at $21.62 on Tuesday. Catalyst Pharmaceuticals has a 1-year low of $13.12 and a 1-year high of $24.27. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75. The firm has a 50 day simple moving average of $21.80 and a 200-day simple moving average of $19.46.

Insider Transactions at Catalyst Pharmaceuticals

In related news, insider Steve Miller sold 50,000 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now directly owns 686,996 shares in the company, valued at $15,065,822.28. This trade represents a 6.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,500 shares of company stock worth $1,754,140. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 263,099 shares in the last quarter. Pacer Advisors Inc. grew its stake in Catalyst Pharmaceuticals by 130,918.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after acquiring an additional 2,965,310 shares during 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 valued at $33,702,000 after acquiring an additional 287,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock valued at $23,215,000 after purchasing an additional 50,804 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its position in shares of Catalyst Pharmaceuticals by 29.9% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 934,234 shares of the biopharmaceutical company’s stock worth $14,471,000 after purchasing an additional 215,130 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

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.