Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to Buy at StockNews.com

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts have also commented on the company. Bank of America reissued a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday. HC Wainwright upped their target price on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial lifted their price target 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. Finally, Stephens began 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX opened at $21.92 on Friday. The business’s 50-day moving average is $21.77 and its two-hundred day moving average is $19.90. The firm has a market capitalization of $2.61 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. Catalyst Pharmaceuticals has a 12 month low of $13.12 and a 12 month high of $24.27.

Insider Transactions 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 stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the transaction, the insider now directly owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,500 shares of company stock valued at $1,754,140. Insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

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