Catalyst Pharmaceuticals (NASDAQ:CPRX) Rating Lowered to “Buy” at StockNews.com

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

CPRX has been the topic of a number of other research reports. Stephens assumed coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price on the stock. Truist Financial raised their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $31.14.

Catalyst Pharmaceuticals Stock Up 0.1 %

CPRX traded up $0.02 during trading hours on Tuesday, hitting $21.62. 247,349 shares of the company’s stock were exchanged, compared to its average volume of 1,163,915. Catalyst Pharmaceuticals has a 1-year low of $13.12 and a 1-year high of $24.27. The stock’s 50-day moving average is $21.80 and its two-hundred day moving average is $19.46. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 3.35 and a beta of 0.75.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $272,640.00. Following the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. This trade represents 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRX. Louisiana State Employees Retirement System lifted its holdings in shares of Catalyst Pharmaceuticals by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 56,500 shares of the biopharmaceutical company’s stock worth $875,000 after buying an additional 1,200 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Catalyst Pharmaceuticals by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,415 shares of the biopharmaceutical company’s stock valued at $12,925,000 after purchasing an additional 16,960 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Catalyst Pharmaceuticals by 3.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 148,488 shares of the biopharmaceutical company’s stock worth $2,300,000 after purchasing an additional 5,007 shares during the period. Natixis Advisors LLC bought a new position in shares of Catalyst Pharmaceuticals during the second quarter worth approximately $513,000. Finally, Rhumbline Advisers raised its position in shares of Catalyst Pharmaceuticals by 3.5% in the second quarter. Rhumbline Advisers now owns 323,769 shares of the biopharmaceutical company’s stock valued at $5,015,000 after buying an additional 10,805 shares in the last quarter. 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.