Catalyst Pharmaceuticals (NASDAQ:CPRX) Coverage Initiated at Stephens

Stephens initiated coverage on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX - Free Report) in a research note released on Monday, Marketbeat.com reports. The firm issued an overweight rating and a $35.00 price objective on the biopharmaceutical company's stock.

A number of other brokerages have also recently commented on CPRX. HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Citigroup boosted their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, August 9th. StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 9th. Finally, Truist Financial lifted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a "buy" rating in a report on Monday, November 11th. Seven equities research 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, the company presently has a consensus rating of "Buy" and a consensus price target of $31.14.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ CPRX traded up $0.22 during mid-day trading on Monday, reaching $20.82. 1,123,971 shares of the company traded hands, compared to its average volume of 1,196,407. The company's fifty day moving average is $20.99 and its two-hundred day moving average is $18.37. Catalyst Pharmaceuticals has a fifty-two week low of $13.00 and a fifty-two week high of $24.27. The stock has a market cap of $2.48 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 3.17 and a beta of 0.75.

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 150,000 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total value of $3,052,500.00. Following the completion of the sale, the insider now directly owns 675,124 shares of the company's stock, valued at approximately $13,738,773.40. This trade represents a 18.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Tierney sold 15,000 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total value of $301,500.00. Following the sale, the director now owns 348,874 shares of the company's stock, valued at approximately $7,012,367.40. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CPRX. GAMMA Investing LLC lifted its position in Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $35,000 after purchasing an additional 681 shares during the period. nVerses Capital LLC acquired a new position in Catalyst Pharmaceuticals in the third quarter valued at approximately $50,000. Larson Financial Group LLC boosted its stake in Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company's stock valued at $60,000 after acquiring an additional 2,994 shares during the last quarter. CWM LLC grew its holdings in Catalyst Pharmaceuticals by 686.5% during the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 3,549 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Catalyst Pharmaceuticals during the 2nd quarter worth $70,000. Institutional investors own 79.22% of the company's stock.

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.