StockNews.com Downgrades Catalyst Pharmaceuticals (NASDAQ:CPRX) to Buy

StockNews.com downgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

CPRX has been the topic of several other reports. Bank of America reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday. Truist Financial raised their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. HC Wainwright upped their price objective on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stephens started coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.86.

Catalyst Pharmaceuticals Stock Down 3.9 %

Catalyst Pharmaceuticals stock opened at $21.92 on Friday. The firm’s 50-day simple moving average is $21.77 and its 200 day simple moving average is $19.98. Catalyst Pharmaceuticals has a 52 week low of $13.12 and a 52 week high of $24.27. The firm has a market capitalization of $2.61 billion, a PE ratio of 18.58, a P/E/G ratio of 3.35 and a beta of 0.79.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals 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 transaction, the insider now owns 51,391 shares in the company, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steve Miller sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at $15,065,822.28. This represents a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,500 shares of company stock valued at $1,754,140. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

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

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.