Catalyst Pharmaceuticals (NASDAQ:CPRX) Sets New 1-Year High - Here's What Happened

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $22.27 and last traded at $22.05, with a volume of 348816 shares changing hands. The stock had previously closed at $21.80.

Analyst Upgrades and Downgrades

CPRX has been the subject of several recent analyst reports. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Truist Financial increased their price objective on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Citigroup raised their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Finally, HC Wainwright upped their target price on Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $29.50.

Catalyst Pharmaceuticals Price Performance

The stock's 50-day moving average price is $20.47 and its 200 day moving average price is $17.77. The firm has a market capitalization of $2.60 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 3.44 and a beta of 0.76.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.39 by $0.13. Catalyst Pharmaceuticals had a return on equity of 27.77% and a net margin of 15.69%. The company had revenue of $122.71 million for the quarter, compared to the consensus estimate of $111.76 million. Equities research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Steve Miller sold 150,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the transaction, the insider now directly owns 675,124 shares of the company's stock, valued at $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Carmen Jeffrey Del sold 36,058 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the sale, the insider now directly owns 12,369 shares in the company, valued at approximately $227,836.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve Miller sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the transaction, the insider now owns 675,124 shares of the company's stock, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,058 shares of company stock worth $4,018,188. 11.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Catalyst Pharmaceuticals by 2.4% in the 3rd quarter. Assetmark Inc. now owns 72,245 shares of the biopharmaceutical company's stock worth $1,436,000 after purchasing an additional 1,704 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Catalyst Pharmaceuticals in the third quarter worth about $534,000. Summit Global Investments grew its stake in shares of Catalyst Pharmaceuticals by 2.6% during the third quarter. Summit Global Investments now owns 77,292 shares of the biopharmaceutical company's stock worth $1,537,000 after acquiring an additional 1,923 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Catalyst Pharmaceuticals by 48.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 183,376 shares of the biopharmaceutical company's stock valued at $3,532,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Catalyst Pharmaceuticals by 11.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,017 shares of the biopharmaceutical company's stock valued at $398,000 after purchasing an additional 1,989 shares during the last quarter. 79.22% of the stock is owned by hedge funds and other 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.