Robert W. Baird Initiates Coverage on Catalyst Pharmaceuticals (NASDAQ:CPRX)

Robert W. Baird assumed coverage on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX - Free Report) in a report issued on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $28.00 price target on the biopharmaceutical company's stock.

Several other analysts have also recently weighed in on CPRX. HC Wainwright boosted their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. StockNews.com lowered Catalyst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, January 11th. Bank of America restated a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Stephens assumed coverage on Catalyst Pharmaceuticals in a report on Monday, November 18th. They issued an "overweight" rating and a $35.00 target price on the stock. Finally, Truist Financial raised their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $32.25.

Catalyst Pharmaceuticals Trading Down 0.7 %

NASDAQ:CPRX traded down $0.16 during mid-day trading on Tuesday, hitting $22.90. 592,293 shares of the company's stock were exchanged, compared to its average volume of 1,379,608. Catalyst Pharmaceuticals has a fifty-two week low of $13.12 and a fifty-two week high of $24.64. The firm has a market capitalization of $2.73 billion, a P/E ratio of 19.41, a PEG ratio of 2.25 and a beta of 0.80. The company has a 50 day simple moving average of $22.07 and a 200-day simple moving average of $20.87.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 50,000 shares of the firm's 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Molly Harper sold 17,500 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock valued at $1,754,140 over the last ninety days. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wealthfront Advisers LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $2,826,000. Moran Wealth Management LLC bought a new position in Catalyst Pharmaceuticals in the 4th quarter valued at $210,000. AlphaQuest LLC grew its stake in Catalyst Pharmaceuticals by 17.6% in the 4th quarter. AlphaQuest LLC now owns 43,916 shares of the biopharmaceutical company's stock valued at $917,000 after purchasing an additional 6,582 shares during the period. Amundi increased its position in shares of Catalyst Pharmaceuticals by 188.2% during the 4th quarter. Amundi now owns 56,609 shares of the biopharmaceutical company's stock valued at $1,291,000 after purchasing an additional 36,968 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth $6,887,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

About Catalyst Pharmaceuticals

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.