Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Sells $991,929.36 in Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the sale, the insider now directly owns 68,873 shares of the company’s stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $21.96 on Friday. The company has a 50-day simple moving average of $22.28 and a 200 day simple moving average of $21.51. The company has a market capitalization of $2.67 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.47 and a 52-week high of $24.64.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in shares of Catalyst Pharmaceuticals by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock worth $8,116,000 after purchasing an additional 33,888 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Catalyst Pharmaceuticals by 13.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock worth $8,710,000 after acquiring an additional 50,888 shares during the period. Wellington Management Group LLP acquired a new position in Catalyst Pharmaceuticals in the 3rd quarter valued at $1,185,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter valued at $1,273,000. Finally, Spire Wealth Management increased its holdings in 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 buying an additional 13,429 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPRX. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Truist Financial raised 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. Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Stephens reissued an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Eight investment 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.50.

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.