Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) shares were up 1.9% during mid-day trading on Friday . The company traded as high as $23.80 and last traded at $23.61. Approximately 316,473 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,041,931 shares. The stock had previously closed at $23.16.
Analyst Ratings Changes
Several research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Robert W. Baird upped their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America reaffirmed a "buy" rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Finally, Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $32.29.
Read Our Latest Research Report on Catalyst Pharmaceuticals
Catalyst Pharmaceuticals Trading Down 0.1 %
The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 3.31 and a beta of 0.84. The firm's 50 day simple moving average is $22.53 and its two-hundred day simple moving average is $21.72.
Insiders Place Their Bets
In other news, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 owns 188,564 shares of the company's stock, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. 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 and hedge funds have recently added to or reduced their stakes in CPRX. Steward Partners Investment Advisory LLC acquired a new position in shares of Catalyst Pharmaceuticals during the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new position in Catalyst Pharmaceuticals in the fourth quarter valued at about $29,000. Farther Finance Advisors LLC raised its stake in Catalyst Pharmaceuticals by 125.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 1,495 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of 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 worth $60,000 after acquiring an additional 2,994 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter valued at approximately $65,000. 79.22% of the stock is currently owned by institutional investors.
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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