Short Interest in Catalyst Pharmaceuticals, Inc. (CPRX) Drops By 35.4%
Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 4,220,460 shares, a decline of 35.4% from the August 31st total of 6,532,907 shares. Based on an average daily volume of 856,492 shares, the days-to-cover ratio is presently 4.9 days. Currently, 5.9% of the company’s stock are short sold.
Shares of Catalyst Pharmaceuticals (NASDAQ CPRX) opened at 2.65 on Wednesday. The stock’s market capitalization is $224.07 million. Catalyst Pharmaceuticals has a 52 week low of $0.94 and a 52 week high of $3.20. The firm’s 50-day moving average price is $2.61 and its 200 day moving average price is $2.38.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Analysts expect that Catalyst Pharmaceuticals will post ($0.23) earnings per share for the current year.
In related news, insider Patrick J. Mcenany purchased 20,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average price of $2.58 per share, with a total value of $51,600.00. Following the transaction, the insider now directly owns 4,471,026 shares in the company, valued at $11,535,247.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.79% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter worth $111,000. New York State Common Retirement Fund purchased a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at $114,000. Oxford Asset Management lifted its holdings in shares of Catalyst Pharmaceuticals by 138.1% during the 1st quarter. Oxford Asset Management now owns 58,940 shares of the biopharmaceutical company’s stock valued at $115,000 after purchasing an additional 34,181 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Catalyst Pharmaceuticals by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 69,176 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 2,404 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at $149,000. 40.15% of the stock is currently owned by institutional investors and hedge funds.
CPRX has been the subject of a number of analyst reports. SunTrust Banks, Inc. restated a “buy” rating and set a $5.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Tuesday, September 5th. Roth Capital set a $5.00 target price on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 10th. Piper Jaffray Companies set a $6.00 target price on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $4.90.
About Catalyst Pharmaceuticals
Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.
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