Catalyst Pharmaceuticals (NASDAQ:CPRX) Earns Buy Rating from Bank of America

Catalyst Pharmaceuticals (NASDAQ:CPRX)‘s stock had its “buy” rating restated by analysts at Bank of America in a research note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 target price on the biopharmaceutical company’s stock. Bank of America‘s target price points to a potential upside of 36.86% from the stock’s current price.

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

Catalyst Pharmaceuticals Stock Down 3.9 %

CPRX opened at $21.92 on Thursday. The firm has a market cap of $2.61 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.35 and a beta of 0.79. Catalyst Pharmaceuticals has a 52 week low of $13.12 and a 52 week high of $24.27. The business has a fifty day simple moving average of $21.77 and a 200-day simple moving average of $19.90.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. The trade was a 18.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares in the company, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock worth $1,754,140 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several large investors have recently modified their holdings of the company. Natixis Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the second quarter valued at about $513,000. Rhumbline Advisers increased its holdings in shares of Catalyst Pharmaceuticals by 3.5% in the second quarter. Rhumbline Advisers now owns 323,769 shares of the biopharmaceutical company’s stock valued at $5,015,000 after purchasing an additional 10,805 shares during the period. TD Asset Management Inc acquired a new stake in shares of Catalyst Pharmaceuticals during the second quarter worth $254,000. Arizona State Retirement System lifted its holdings in shares of Catalyst Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock worth $461,000 after purchasing an additional 654 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Catalyst Pharmaceuticals in the 2nd quarter valued at $70,000. 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.