Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) traded up 1.9% during trading on Friday . The stock traded as high as $23.80 and last traded at $23.61. 316,473 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,041,931 shares. The stock had previously closed at $23.16.
Analysts Set New Price Targets
Several research analysts recently issued reports on CPRX shares. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Robert W. Baird lifted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Bank of America restated a "buy" rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $32.29.
Read Our Latest Stock Analysis on Catalyst Pharmaceuticals
Catalyst Pharmaceuticals Stock Performance
The firm has a fifty day simple moving average of $22.46 and a 200 day simple moving average of $21.67. The company has a market cap of $3.14 billion, a PE ratio of 21.95, a PEG ratio of 3.31 and a beta of 0.84.
Insider Activity at Catalyst Pharmaceuticals
In related news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now owns 188,564 shares in the company, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the sale, the insider now owns 68,873 shares of the company's stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.
Institutional Trading of Catalyst Pharmaceuticals
A number of institutional investors have recently modified their holdings of CPRX. Castlekeep Investment Advisors LLC acquired a new position in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $37,494,000. Bank of America Corp DE raised its stake in shares of Catalyst Pharmaceuticals by 139.5% in 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 during the period. abrdn plc acquired a new position in shares of Catalyst Pharmaceuticals during the 4th quarter valued at $10,115,000. Arrowstreet Capital Limited Partnership boosted its position in Catalyst Pharmaceuticals by 131.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock worth $14,570,000 after purchasing an additional 396,506 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Catalyst Pharmaceuticals by 4.9% in the 4th 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. Hedge funds and other institutional investors own 79.22% of the company's stock.
About Catalyst Pharmaceuticals
(
Get Free Report)
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.
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