Catalyst Pharmaceuticals (NASDAQ:CPRX) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other research analysts have also commented on CPRX. Oppenheimer restated an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Citigroup boosted their price target on shares of Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $34.00.

Catalyst Pharmaceuticals Trading Down 1.1%

NASDAQ CPRX traded down $0.27 during trading hours on Tuesday, reaching $24.42. The company had a trading volume of 545,706 shares, compared to its average volume of 1,271,637. The stock has a market capitalization of $2.98 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.71 and a beta of 0.75. The stock has a 50-day moving average of $23.86 and a 200 day moving average of $22.30. Catalyst Pharmaceuticals has a 1-year low of $19.05 and a 1-year high of $26.58.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of Catalyst Pharmaceuticals stock in a transaction dated 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 directly owned 2,360 shares of the company’s stock, valued at $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 available at this link. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRX. Federated Hermes Inc. boosted its stake in Catalyst Pharmaceuticals by 52.8% in the third quarter. Federated Hermes Inc. now owns 389,289 shares of the biopharmaceutical company’s stock valued at $7,669,000 after acquiring an additional 134,509 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Catalyst Pharmaceuticals by 1,216.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 165,496 shares of the biopharmaceutical company’s stock valued at $3,260,000 after purchasing an additional 152,925 shares during the period. Exchange Traded Concepts LLC grew its stake 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 buying an additional 61,250 shares during the last quarter. SG Americas Securities LLC grew its stake in Catalyst Pharmaceuticals by 957.5% during the 3rd quarter. SG Americas Securities LLC now owns 83,690 shares of the biopharmaceutical company’s stock worth $1,649,000 after buying an additional 75,776 shares during the last quarter. Finally, Cresset Asset Management LLC increased its position in Catalyst Pharmaceuticals by 588.1% during the second quarter. Cresset Asset Management LLC now owns 87,418 shares of the biopharmaceutical company’s stock worth $1,897,000 after buying an additional 74,713 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).