Robert W. Baird Forecasts Strong Price Appreciation for Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock

Catalyst Pharmaceuticals (NASDAQ:CPRX - Free Report) had its price target raised by Robert W. Baird from $28.00 to $32.00 in a report released on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the biopharmaceutical company's stock.

A number of other brokerages have also recently issued reports on CPRX. Truist Financial raised their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Bank of America reiterated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens reiterated an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Finally, Baird R W raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $32.50.

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Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX traded down $0.22 during trading on Monday, reaching $21.67. The stock had a trading volume of 1,063,079 shares, compared to its average volume of 1,266,546. The stock has a market capitalization of $2.63 billion, a PE ratio of 18.36, a P/E/G ratio of 3.31 and a beta of 0.80. Catalyst Pharmaceuticals has a 52 week low of $14.47 and a 52 week high of $24.64. The business's 50-day moving average price is $22.27 and its 200 day moving average price is $21.49.

Insider Activity

In other news, insider Brian Elsbernd sold 62,975 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the sale, the insider now directly owns 188,564 shares of the company's stock, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steve Miller sold 50,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares of the company's stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter worth $29,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Catalyst Pharmaceuticals during the 4th quarter valued at approximately $3,733,000. Armis Advisers LLC purchased a new position in Catalyst Pharmaceuticals during the fourth quarter valued at $306,000. Mackenzie Financial Corp boosted its holdings in Catalyst Pharmaceuticals by 132.9% in the fourth quarter. Mackenzie Financial Corp now owns 34,531 shares of the biopharmaceutical company's stock worth $721,000 after acquiring an additional 19,705 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $1,775,000. Hedge funds and other institutional investors 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.