Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to "Buy" at StockNews.com

StockNews.com cut shares of Catalyst Pharmaceuticals (NASDAQ:CPRX - Free Report) from a strong-buy rating to a buy rating in a report released on Saturday morning.

Several other equities research analysts also recently commented on CPRX. Truist Financial increased 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. Bank of America reiterated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday. Stephens started coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, HC Wainwright raised their target price on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Friday. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $32.86.

Catalyst Pharmaceuticals Stock Performance

CPRX traded down $0.88 on Friday, hitting $21.92. 2,509,148 shares of the company were exchanged, compared to its average volume of 1,666,905. The stock's fifty day moving average is $21.77 and its 200-day moving average is $19.98. Catalyst Pharmaceuticals has a 12 month low of $13.12 and a 12 month high of $24.27. The company has a market cap of $2.61 billion, a PE ratio of 18.58, a PEG ratio of 3.35 and a beta of 0.79.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 12,000 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the sale, the insider now owns 51,391 shares of the company's stock, valued at approximately $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Molly Harper sold 17,500 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock worth $1,754,140 over the last three months. Insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of Catalyst Pharmaceuticals by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $35,000 after buying an additional 681 shares in the last quarter. nVerses Capital LLC bought a new stake in Catalyst Pharmaceuticals during the 3rd quarter worth approximately $50,000. Larson Financial Group LLC increased its position in Catalyst Pharmaceuticals by 27,218.2% in the 3rd 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 period. Meeder Asset Management Inc. bought a new position in shares of Catalyst Pharmaceuticals during the second quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new position in shares of Catalyst Pharmaceuticals during the third quarter valued at $151,000. 79.22% of the stock is currently owned by institutional investors.

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.