Catalyst Pharmaceuticals' (CPRX) "Buy" Rating Reiterated at Bank of America

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Bank of America in a research note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 price target on the biopharmaceutical company's stock. Bank of America's price target would indicate a potential upside of 31.58% from the company's current price.

Several other equities research analysts have also recently weighed in on CPRX. Truist Financial upped their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research 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. Finally, Stephens started coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an "overweight" rating and a $35.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals has an average rating of "Buy" and a consensus price target of $32.14.

Catalyst Pharmaceuticals Trading Up 16.7 %

Shares of NASDAQ CPRX traded up $3.27 during mid-day trading on Thursday, reaching $22.80. The company had a trading volume of 3,087,861 shares, compared to its average volume of 1,496,892. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 3.35 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 business's 50-day moving average is $21.75 and its 200-day moving average is $19.88.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 50,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the sale, the insider now owns 686,996 shares in the company, valued at approximately $15,065,822.28. The trade was a 6.78 % decrease in their position. 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 transaction of $385,000.00. The disclosure for this sale can be found here. Insiders have sold 79,500 shares of company stock valued at $1,754,140 in the last ninety days. Corporate insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CPRX. GAMMA Investing LLC boosted its stake 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 worth $35,000 after buying an additional 681 shares during the last quarter. nVerses Capital LLC purchased a new stake in Catalyst Pharmaceuticals in the 3rd quarter worth approximately $50,000. Larson Financial Group LLC grew its stake 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 worth $60,000 after purchasing an additional 2,994 shares during the period. Meeder Asset Management Inc. acquired a new stake in Catalyst Pharmaceuticals during the second quarter valued at $70,000. Finally, Quantbot Technologies LP purchased a new position in Catalyst Pharmaceuticals in the third quarter valued at $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.