Robert W. Baird Initiates Coverage on Catalyst Pharmaceuticals (NASDAQ:CPRX)

Equities research analysts at Robert W. Baird began coverage on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) in a report issued on Tuesday, MarketBeat.com reports. The firm set an “outperform” rating and a $28.00 price target on the biopharmaceutical company’s stock. Robert W. Baird’s price objective points to a potential upside of 19.66% from the company’s current price.

CPRX has been the topic of several other research reports. Bank of America reiterated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens began coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price target for the company. HC Wainwright lifted their price objective 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 cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Finally, Truist Financial upped their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and an average price target of $32.25.

Catalyst Pharmaceuticals Stock Up 1.3 %

NASDAQ CPRX opened at $23.40 on Tuesday. Catalyst Pharmaceuticals has a 12-month low of $13.12 and a 12-month high of $24.64. The company has a 50 day moving average price of $22.05 and a two-hundred day moving average price of $20.85. The stock has a market capitalization of $2.79 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.25 and a beta of 0.80.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total transaction of $272,640.00. Following the transaction, the insider now directly owns 51,391 shares in the company, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred 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 in the company, valued at $15,065,822.28. This trade represents a 6.78 % decrease in their ownership of the stock. 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 681 shares during the last quarter. nVerses Capital LLC bought a new stake in Catalyst Pharmaceuticals during the 3rd quarter worth about $50,000. Larson Financial Group LLC lifted its position in 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 purchasing an additional 2,994 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Catalyst Pharmaceuticals during the 4th quarter valued at about $65,000. Finally, KBC Group NV raised its stake in shares of Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,542 shares during the last quarter. 79.22% of the stock is currently owned by 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.