Catalyst Pharmaceuticals (NASDAQ:CPRX) Given Buy Rating at Bank of America

Bank of America reissued their buy rating on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $30.00 target price on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the stock. Truist Financial upped their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Stephens started coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective on the stock. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Stock Performance

CPRX stock opened at $21.92 on Thursday. Catalyst Pharmaceuticals has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The stock’s 50 day simple moving average is $21.77 and its 200 day simple moving average is $19.98. The company has a market cap of $2.61 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79.

Insider Transactions at Catalyst Pharmaceuticals

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 value of $1,096,500.00. Following the sale, the insider now 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 SEC, which is available at the SEC website. Also, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals 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 of the company’s stock, 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 90 days, insiders sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 681 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at about $50,000. Larson Financial Group LLC increased its position in shares of Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,994 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Catalyst Pharmaceuticals during the second quarter valued at approximately $70,000. Finally, Quantbot Technologies LP purchased a new position in Catalyst Pharmaceuticals in the 3rd quarter worth approximately $151,000. 79.22% of the stock is currently owned by institutional investors.

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.