Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) have been assigned an average recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.20.

A number of equities research analysts recently issued reports on CPRX shares. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Finally, Citigroup boosted their target price on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 7th.

Insider Buying and Selling

In other news, insider Carmen Jeffrey Del sold 10,983 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total value of $256,233.39. Following the completion of the transaction, the insider directly owned 3,962 shares in the company, valued at approximately $92,433.46. This trade represents a 73.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Harper sold 26,746 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the completion of the sale, the director owned 2,360 shares in the company, valued at $54,870. This represents a 91.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 24.7% in the second quarter. Redhawk Wealth Advisors Inc. now owns 67,778 shares of the biopharmaceutical company’s stock worth $1,471,000 after buying an additional 13,407 shares during the period. Exchange Traded Concepts LLC grew its position in Catalyst Pharmaceuticals by 3,559.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 62,971 shares of the biopharmaceutical company’s stock worth $1,241,000 after acquiring an additional 61,250 shares during the last quarter. Cresset Asset Management LLC increased its stake in Catalyst Pharmaceuticals by 588.1% in the 2nd quarter. Cresset Asset Management LLC now owns 87,418 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 74,713 shares during the period. Boston Partners lifted its position in Catalyst Pharmaceuticals by 0.6% in the second quarter. Boston Partners now owns 1,282,722 shares of the biopharmaceutical company’s stock valued at $27,928,000 after purchasing an additional 7,397 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Catalyst Pharmaceuticals by 18.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,223,623 shares of the biopharmaceutical company’s stock valued at $26,553,000 after purchasing an additional 188,594 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Trading Down 1.1%

Shares of CPRX stock traded down $0.26 during trading hours on Friday, hitting $22.70. 892,231 shares of the company were exchanged, compared to its average volume of 1,082,917. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 0.76 and a beta of 0.72. The firm has a fifty day simple moving average of $23.22 and a 200 day simple moving average of $21.57. Catalyst Pharmaceuticals has a 52-week low of $19.05 and a 52-week high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.18. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%.The business had revenue of $148.39 million during the quarter, compared to the consensus estimate of $136.79 million. Sell-side analysts anticipate that Catalyst Pharmaceuticals will post 1.9 EPS for the current year.

Catalyst Pharmaceuticals announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 8.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).