Molly Harper Sells 26,746 Shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Director Molly Harper sold 26,746 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $23.25, for a total transaction of $621,844.50. Following the sale, the director directly owned 2,360 shares of the company’s stock, valued at approximately $54,870. This represents a 91.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Catalyst Pharmaceuticals Stock Up 0.0%

Catalyst Pharmaceuticals stock traded up $0.01 during mid-day trading on Tuesday, hitting $24.19. The company’s stock had a trading volume of 1,365,499 shares, compared to its average volume of 1,358,966. The stock has a market capitalization of $2.97 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.84 and a beta of 0.68. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.05 and a twelve month high of $26.58. The stock’s fifty day moving average price is $22.04 and its two-hundred day moving average price is $21.60.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The business had revenue of $53.11 million during the quarter. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%. Equities analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals announced that its board has approved a share repurchase plan on Wednesday, October 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the biopharmaceutical company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Weiss Ratings upgraded Catalyst Pharmaceuticals from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.67.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Huntington National Bank raised its holdings in shares of Catalyst Pharmaceuticals by 105.0% during the second quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 734 shares in the last quarter. Rothschild Investment LLC increased its position in Catalyst Pharmaceuticals by 1,085.7% in the 3rd quarter. Rothschild Investment LLC now owns 1,660 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 1,520 shares during the last quarter. Advisory Services Network LLC acquired a new position in Catalyst Pharmaceuticals in the 3rd quarter worth about $39,000. Quarry LP purchased a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth about $40,000. Finally, Financial Life Planners acquired a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at about $42,000. 79.22% of the stock is 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.