Catalyst Pharmaceuticals (NASDAQ:CPRX) Sets New 1-Year High – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) hit a new 52-week high on Thursday . The company traded as high as $24.64 and last traded at $23.71, with a volume of 95469 shares. The stock had previously closed at $23.96.

Analyst Upgrades and Downgrades

CPRX has been the topic of several recent research reports. HC Wainwright lifted their price target on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. StockNews.com downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Stephens started coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 price target on the stock. Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, Truist Financial lifted their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and an average price target of $32.86.

Catalyst Pharmaceuticals Price Performance

The stock has a 50-day moving average price of $21.98 and a 200-day moving average price of $20.69. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.39 and a beta of 0.79.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 17,500 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Ingenito sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. The trade was a 18.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock valued at $1,754,140 in the last quarter. 11.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Catalyst Pharmaceuticals by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock valued at $61,681,000 after acquiring an additional 151,495 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Catalyst Pharmaceuticals by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock worth $23,215,000 after purchasing an additional 50,804 shares during the period. Principal Financial Group Inc. increased its holdings in Catalyst Pharmaceuticals by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 600,488 shares of the biopharmaceutical company’s stock valued at $12,532,000 after buying an additional 24,535 shares during the period. AQR Capital Management LLC raised its position in shares of Catalyst Pharmaceuticals by 87.1% in the 2nd quarter. AQR Capital Management LLC now owns 488,386 shares of the biopharmaceutical company’s stock valued at $7,565,000 after buying an additional 227,321 shares in the last quarter. Finally, abrdn plc bought a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth approximately $10,115,000. 79.22% of the stock is currently owned by institutional investors.

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.