Brokerages Set Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) PT at $32.29

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) have been given an average rating of "Buy" by the eight ratings firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.29.

A number of research analysts have weighed in on the company. Bank of America restated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Stephens restated an "overweight" rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Robert W. Baird increased their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. HC Wainwright reiterated a "buy" rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th.

Remove Ads

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX traded up $0.16 during trading on Friday, hitting $22.96. The stock had a trading volume of 358,569 shares, compared to its average volume of 1,140,169. The company has a market capitalization of $2.79 billion, a PE ratio of 19.46, a P/E/G ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals has a 12 month low of $14.47 and a 12 month high of $26.16. The company's 50-day moving average price is $22.62 and its two-hundred day moving average price is $22.04.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. This represents a 39.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the completion of the transaction, the insider now directly owns 188,564 shares of the company's stock, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Castlekeep Investment Advisors LLC acquired a new position in Catalyst Pharmaceuticals during the 4th quarter worth approximately $37,494,000. Bank of America Corp DE boosted its holdings in shares of Catalyst Pharmaceuticals by 139.5% during the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock valued at $32,741,000 after acquiring an additional 913,843 shares in the last quarter. abrdn plc bought a new stake in Catalyst Pharmaceuticals during the 4th quarter worth $10,115,000. Arrowstreet Capital Limited Partnership raised its position in Catalyst Pharmaceuticals by 131.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after purchasing an additional 396,506 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock valued at $175,957,000 after purchasing an additional 390,116 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

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.