Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Down 5.2% on Insider Selling

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price dropped 5.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $23.58 and last traded at $24.09. Approximately 878,006 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 1,263,655 shares. The stock had previously closed at $25.41.

Specifically, insider Preethi Sundaram sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the sale, the insider now owns 41,081 shares of the company’s stock, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total transaction of $61,376.84. Following the transaction, the insider now directly owns 42,681 shares in the company, valued at approximately $1,127,205.21. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CPRX shares. Stephens reaffirmed an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Finally, Robert W. Baird raised their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $32.83.

Catalyst Pharmaceuticals Stock Down 3.1%

The company has a market capitalization of $2.87 billion, a PE ratio of 19.94, a PEG ratio of 3.31 and a beta of 0.72. The business has a 50 day simple moving average of $23.85 and a 200 day simple moving average of $22.86.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently modified their holdings of CPRX. Wilmington Savings Fund Society FSB purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth approximately $65,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Catalyst Pharmaceuticals by 13.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after buying an additional 50,888 shares during the last quarter. Rhumbline Advisers increased its position in shares of Catalyst Pharmaceuticals by 0.3% in the 4th quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock valued at $6,518,000 after acquiring an additional 952 shares during the period. Principal Financial Group Inc. raised its stake in Catalyst Pharmaceuticals by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 600,488 shares of the biopharmaceutical company’s stock worth $12,532,000 after acquiring an additional 24,535 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in Catalyst Pharmaceuticals by 91.5% during the 4th quarter. Sanctuary Advisors LLC now owns 59,447 shares of the biopharmaceutical company’s stock worth $1,241,000 after acquiring an additional 28,407 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

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.