Catalyst Pharmaceuticals (NASDAQ:CPRX) Lowered to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Several other brokerages have also recently issued reports on CPRX. Truist Financial increased their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Finally, Stephens assumed coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of “Buy” and an average price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX opened at $21.62 on Tuesday. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 3.35 and a beta of 0.75. Catalyst Pharmaceuticals has a 1-year low of $13.12 and a 1-year high of $24.27. The company has a 50-day moving average of $21.80 and a 200 day moving average of $19.46.

Insider Activity at Catalyst Pharmaceuticals

In related news, Director Molly Harper sold 17,500 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total transaction of $385,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Ingenito sold 12,000 shares of the firm’s 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 sale, the insider now owns 51,391 shares in the company, valued at $1,167,603.52. This trade represents a 18.93 % 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 quarter. Insiders own 11.00% of the company’s stock.

Institutional Trading of Catalyst Pharmaceuticals

Several institutional investors have recently bought and sold shares of CPRX. Pacer Advisors Inc. raised its stake in shares of Catalyst Pharmaceuticals by 130,918.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock worth $45,968,000 after buying an additional 2,965,310 shares during the period. Renaissance Technologies LLC increased its position in shares of Catalyst Pharmaceuticals by 15.2% during the second quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock worth $33,702,000 after purchasing an additional 287,300 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Catalyst Pharmaceuticals by 245.4% during the third quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock worth $7,990,000 after buying an additional 285,564 shares in the last quarter. Integral Health Asset Management LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the second quarter valued at about $4,260,000. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $46,479,000 after buying an additional 263,099 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

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.