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

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

Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price target on the stock. Finally, Truist Financial upped 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Catalyst Pharmaceuticals has an average rating of “Buy” and a consensus target price of $32.86.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock opened at $21.92 on Thursday. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. The firm has a 50-day moving average of $21.77 and a two-hundred day moving average of $19.90. Catalyst Pharmaceuticals has a 1 year low of $13.12 and a 1 year high of $24.27.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was 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 approximately $1,167,603.52. This trade represents a 18.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total transaction of $385,000.00. 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 quarter. 11.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Catalyst Pharmaceuticals

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