Catalyst Pharmaceuticals (NASDAQ:CPRX) Releases Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Catalyst Pharmaceuticals (NASDAQ:CPRX) announced its earnings results on Wednesday. The biopharmaceutical company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.26, FiscalAI reports. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%.The company had revenue of $152.61 million during the quarter, compared to the consensus estimate of $142.75 million.

Catalyst Pharmaceuticals Stock Up 2.8%

Shares of CPRX traded up $0.67 during mid-day trading on Wednesday, hitting $24.86. The stock had a trading volume of 989,556 shares, compared to its average volume of 1,241,296. Catalyst Pharmaceuticals has a fifty-two week low of $19.05 and a fifty-two week high of $26.58. The company has a market cap of $3.06 billion, a PE ratio of 14.45, a PEG ratio of 0.81 and a beta of 0.74. The company’s fifty day simple moving average is $23.83 and its two-hundred day simple moving average is $22.14.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Monday, December 29th. Oppenheimer reissued an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Finally, Citigroup lifted their price target on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.20.

Insider Activity

In related news, Director Molly Harper sold 26,746 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 2,360 shares in the company, valued at $54,870. This trade represents a 91.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Deerfield Management Company L.P. lifted its holdings in Catalyst Pharmaceuticals by 72.8% in the third quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock worth $98,003,000 after acquiring an additional 2,095,291 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Catalyst Pharmaceuticals by 200.6% during the 4th quarter. Janus Henderson Group PLC now owns 1,719,767 shares of the biopharmaceutical company’s stock worth $40,124,000 after purchasing an additional 1,147,565 shares during the period. Morgan Stanley lifted its holdings in shares of Catalyst Pharmaceuticals by 59.1% in the 4th quarter. Morgan Stanley now owns 2,933,399 shares of the biopharmaceutical company’s stock worth $68,466,000 after purchasing an additional 1,089,775 shares during the last quarter. Glenmede Investment Management LP lifted its holdings in shares of Catalyst Pharmaceuticals by 781.8% in the 3rd quarter. Glenmede Investment Management LP now owns 680,224 shares of the biopharmaceutical company’s stock worth $13,400,000 after purchasing an additional 603,084 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Catalyst Pharmaceuticals by 30.6% during the 2nd quarter. Bank of America Corp DE now owns 2,365,675 shares of the biopharmaceutical company’s stock valued at $51,335,000 after purchasing an additional 554,200 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

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).