Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) shot up 13% during mid-day trading on Wednesday . The company traded as high as $24.00 and last traded at $22.06. 1,564,030 shares were traded during mid-day trading, an increase of 36% from the average session volume of 1,147,241 shares. The stock had previously closed at $19.53.
Wall Street Analysts Forecast Growth
CPRX has been the subject of several research analyst reports. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, January 3rd. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Stephens initiated coverage on shares of Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an "overweight" rating and a $35.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $31.14.
Get Our Latest Analysis on CPRX
Catalyst Pharmaceuticals Price Performance
The stock has a market capitalization of $2.72 billion, a PE ratio of 19.32, a P/E/G ratio of 3.35 and a beta of 0.79. The firm's 50 day simple moving average is $21.72 and its 200 day simple moving average is $19.86.
Insider Buying and Selling
In related news, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the transaction, the insider now directly owns 51,391 shares of the company's stock, valued at $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steve Miller sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 686,996 shares of the company's stock, valued at approximately $15,065,822.28. This trade represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock worth $1,754,140 in the last 90 days. 11.00% of the stock is owned by company insiders.
Institutional Trading of Catalyst Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new position in Catalyst Pharmaceuticals in the 3rd quarter worth $1,185,000. Susquehanna Fundamental Investments LLC bought a new position in Catalyst Pharmaceuticals in the second quarter worth about $258,000. Integral Health Asset Management LLC purchased a new stake in Catalyst Pharmaceuticals in the second quarter worth about $4,260,000. GSA Capital Partners LLP purchased a new position in Catalyst Pharmaceuticals during the third quarter valued at $625,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the third quarter worth $708,000. 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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