Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock Price Expected to Rise, Citigroup Analyst Says

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its price target upped by equities researchers at Citigroup from $33.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price points to a potential upside of 47.24% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $34.00.

Catalyst Pharmaceuticals Stock Performance

CPRX stock traded down $0.11 during midday trading on Tuesday, hitting $23.77. 389,405 shares of the company’s stock were exchanged, compared to its average volume of 1,272,597. Catalyst Pharmaceuticals has a one year low of $19.05 and a one year high of $26.58. The company has a market cap of $2.90 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.75. The stock’s fifty day moving average price is $23.85 and its 200-day moving average price is $22.26.

Insider Transactions at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of Catalyst Pharmaceuticals stock in a transaction on Friday, December 12th. The shares were sold at an average price of $23.25, for a total value of $621,844.50. Following the sale, the director directly owned 2,360 shares in the company, valued at approximately $54,870. The trade was a 91.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.40% of the company’s stock.

Institutional Trading of Catalyst Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deerfield Management Company L.P. boosted its position in Catalyst Pharmaceuticals by 72.8% during the third quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock valued at $98,003,000 after purchasing an additional 2,095,291 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Catalyst Pharmaceuticals by 233.9% in the 2nd quarter. American Century Companies Inc. now owns 1,757,988 shares of the biopharmaceutical company’s stock valued at $38,148,000 after buying an additional 1,231,419 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Catalyst Pharmaceuticals by 200.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,719,767 shares of the biopharmaceutical company’s stock valued at $40,124,000 after buying an additional 1,147,565 shares in the last quarter. Morgan Stanley grew its stake in shares of Catalyst Pharmaceuticals by 59.1% in the fourth quarter. Morgan Stanley now owns 2,933,399 shares of the biopharmaceutical company’s stock valued at $68,466,000 after buying an additional 1,089,775 shares in the last quarter. Finally, Fundsmith LLP increased its holdings in Catalyst Pharmaceuticals by 24.2% during the third quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock worth $66,267,000 after buying an additional 654,721 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

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).