Catalyst Pharmaceuticals (NASDAQ:CPRX) Reaches New 1-Year High – What’s Next?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares hit a new 52-week high on Wednesday . The stock traded as high as $21.70 and last traded at $21.70, with a volume of 485057 shares. The stock had previously closed at $21.18.

Analysts Set New Price Targets

CPRX has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Citigroup increased their price target on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 9th. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, HC Wainwright raised their target price on shares of Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Catalyst Pharmaceuticals has an average rating of “Buy” and an average price target of $29.50.

Catalyst Pharmaceuticals Price Performance

The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 3.18 and a beta of 0.76. The business has a 50 day moving average of $20.14 and a 200 day moving average of $17.35.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. Catalyst Pharmaceuticals had a return on equity of 27.77% and a net margin of 15.69%. The firm had revenue of $122.71 million for the quarter, compared to the consensus estimate of $111.76 million. As a group, equities analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.82 EPS for the current year.

Insider Activity

In related news, insider Carmen Jeffrey Del sold 36,058 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the completion of the transaction, the insider now directly owns 12,369 shares in the company, valued at approximately $227,836.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Catalyst Pharmaceuticals news, insider Steve Miller sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the transaction, the insider now directly owns 675,124 shares in the company, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carmen Jeffrey Del sold 36,058 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $18.42, for a total transaction of $664,188.36. Following the sale, the insider now owns 12,369 shares in the company, valued at $227,836.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,058 shares of company stock worth $4,018,188 in the last three months. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Catalyst Pharmaceuticals by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 7,980,661 shares of the biopharmaceutical company’s stock valued at $127,212,000 after purchasing an additional 860,244 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Catalyst Pharmaceuticals by 9.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock worth $46,479,000 after acquiring an additional 263,099 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Catalyst Pharmaceuticals by 130,918.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after purchasing an additional 2,965,310 shares during the period. Janus Henderson Group PLC increased its position in Catalyst Pharmaceuticals by 139.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,726,388 shares of the biopharmaceutical company’s stock valued at $43,445,000 after acquiring an additional 1,587,794 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Catalyst Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock worth $33,702,000 after acquiring an additional 287,300 shares during the period. 79.22% of the stock is owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Company Profile

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.