Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Receives $32.86 Average PT from Brokerages

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) has earned an average rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.86.

Several brokerages recently weighed in on CPRX. HC Wainwright boosted their target price on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. StockNews.com lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Stephens initiated coverage on shares of Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 price objective for the company. Bank of America reissued a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Finally, Truist Financial lifted their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

Catalyst Pharmaceuticals Stock Up 0.6 %

NASDAQ:CPRX opened at $22.84 on Friday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 2.28 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 firm has a 50 day moving average of $21.86 and a 200 day moving average of $20.61.

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 50,000 shares of the stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the transaction, the insider now owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock worth $1,754,140 over the last three months. Company insiders own 11.00% of the company’s stock.

Institutional Trading of Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in CPRX. abrdn plc purchased a new position in shares of Catalyst Pharmaceuticals during the 4th quarter valued at approximately $10,115,000. Jane Street Group LLC lifted its holdings in Catalyst Pharmaceuticals by 245.4% during the third quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock valued at $7,990,000 after purchasing an additional 285,564 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Catalyst Pharmaceuticals by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock valued at $46,479,000 after purchasing an additional 263,099 shares during the period. Walleye Capital LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth about $4,936,000. Finally, AQR Capital Management LLC raised its position in shares of Catalyst Pharmaceuticals by 87.1% during the 2nd quarter. AQR Capital Management LLC now owns 488,386 shares of the biopharmaceutical company’s stock worth $7,565,000 after purchasing an additional 227,321 shares during the last quarter. 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.