Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Receives Consensus Recommendation of “Buy” from Brokerages

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $31.14.

A number of analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 3rd. Truist Financial upped their price objective 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. Finally, Stephens assumed coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company.

Catalyst Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ CPRX opened at $19.53 on Wednesday. The firm has a market cap of $2.33 billion, a PE ratio of 16.55, a P/E/G ratio of 3.35 and a beta of 0.79. The company’s fifty day simple moving average is $21.72 and its 200 day simple moving average is $19.86. Catalyst Pharmaceuticals has a 12-month low of $13.12 and a 12-month high of $24.27.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was 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 have sold a total of 79,500 shares of company stock valued at $1,754,140 in the last 90 days. 11.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Arizona State Retirement System grew its holdings in Catalyst Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock valued at $461,000 after purchasing an additional 654 shares during the period. GAMMA Investing LLC grew its stake in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 681 shares during the period. XTX Topco Ltd increased its holdings in Catalyst Pharmaceuticals by 7.5% in the 2nd quarter. XTX Topco Ltd now owns 11,134 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 773 shares during the last quarter. Sei Investments Co. raised its stake in Catalyst Pharmaceuticals by 1.3% in the 2nd quarter. Sei Investments Co. now owns 84,458 shares of the biopharmaceutical company’s stock valued at $1,308,000 after acquiring an additional 1,098 shares during the period. Finally, Assetmark Inc. raised its stake in Catalyst Pharmaceuticals by 2.4% in the 3rd quarter. Assetmark Inc. now owns 72,245 shares of the biopharmaceutical company’s stock valued at $1,436,000 after acquiring an additional 1,704 shares during the period. Hedge funds and other institutional investors own 79.22% of the company’s stock.

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.