Brokerages Set Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Price Target at $30.50

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $30.50.

Several brokerages have recently commented on CPRX. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Citigroup lifted their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Truist Financial upped their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th.

Catalyst Pharmaceuticals Stock Performance

NASDAQ:CPRX opened at $21.69 on Tuesday. The company’s 50-day simple moving average is $20.97 and its 200-day simple moving average is $18.28. Catalyst Pharmaceuticals has a fifty-two week low of $13.00 and a fifty-two week high of $24.27. The stock has a market capitalization of $2.59 billion, a P/E ratio of 18.38, a P/E/G ratio of 3.67 and a beta of 0.75.

Insider Activity at Catalyst Pharmaceuticals

In related news, Director David S. Tierney sold 15,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the sale, the director now owns 348,874 shares of the company’s stock, valued at approximately $7,012,367.40. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Miller sold 150,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the transaction, the insider now directly owns 675,124 shares in the company, valued at approximately $13,738,773.40. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. purchased a new stake in Catalyst Pharmaceuticals in the 1st quarter valued at $805,000. Sei Investments Co. increased its position in shares of Catalyst Pharmaceuticals by 64.3% during the 1st quarter. Sei Investments Co. now owns 83,360 shares of the biopharmaceutical company’s stock worth $1,329,000 after purchasing an additional 32,621 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Catalyst Pharmaceuticals in the second quarter valued at about $258,000. Integral Health Asset Management LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the second quarter valued at about $4,260,000. Finally, Vanguard Group Inc. raised its stake in shares of Catalyst Pharmaceuticals by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 7,980,661 shares of the biopharmaceutical company’s stock valued at $127,212,000 after acquiring an additional 860,244 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

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.