Zacks Investment Research lowered shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a strong-buy rating to a hold rating in a research report released on Tuesday morning, reports. Zacks Investment Research currently has $4.75 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Catalyst's Firdapse is the company’s first approved product. The drug is the first FDA-approved treatment for Lambert-Eaton Myasthenic Syndrome (LEMS) in adults, which was approved in November 2018 and launched in January. The company generated entire first-quarter revenues from Firdapse. Catalyst is also developing Firdapse to treat additional rare neuromuscular diseases. However, all the other candidates in its portfolio are in early stages of development. Thus, the successful development and commercialization of drug candidates are highly crucial for the company. Shares of the company have outperformed the industry year to date. Estimates have remained stable ahead of the Q2 results. The company has a mixed record of earnings surprises in the recent quarters.”

Several other analysts have also recently weighed in on the stock. HC Wainwright set a $25.00 target price on shares of Onconova Therapeutics and gave the company a buy rating in a report on Tuesday, May 14th. BidaskClub cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. Cantor Fitzgerald reaffirmed a buy rating and issued a $15.00 target price on shares of Foamix Pharmaceuticals in a report on Tuesday, May 7th. Finally, ValuEngine cut shares of Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Catalyst Pharmaceuticals currently has a consensus rating of Buy and an average target price of $7.45.

Shares of NASDAQ CPRX traded down $0.06 during midday trading on Tuesday, hitting $4.08. The company’s stock had a trading volume of 10,054 shares, compared to its average volume of 1,009,583. The company’s fifty day moving average price is $3.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.08 and a quick ratio of 6.07. Catalyst Pharmaceuticals has a 1 year low of $1.85 and a 1 year high of $6.16. The stock has a market capitalization of $425.80 million, a price-to-earnings ratio of -12.42 and a beta of 2.60.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.12. The business had revenue of $12.45 million during the quarter, compared to analysts’ expectations of $2.40 million. During the same period in the previous year, the business posted ($0.06) EPS. As a group, equities analysts forecast that Catalyst Pharmaceuticals will post 0.11 EPS for the current fiscal year.

In other news, CEO Patrick J. Mcenany bought 25,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased at an average price of $3.23 per share, with a total value of $80,750.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,762,693 shares in the company, valued at $15,383,498.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.70% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $28,000. Biltmore Capital Advisors LLC acquired a new stake in Catalyst Pharmaceuticals during the first quarter worth approximately $79,000. Paloma Partners Management Co acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $30,000. BNP Paribas Arbitrage SA acquired a new stake in Catalyst Pharmaceuticals during the first quarter worth approximately $102,000. Finally, FNY Investment Advisers LLC acquired a new stake in Catalyst Pharmaceuticals during the first quarter worth approximately $104,000. 59.78% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.

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