Catalyst Pharmaceuticals (NASDAQ:CPRX) Trading 13% Higher – Here’s What Happened

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price was up 13% during trading on Wednesday . The company traded as high as $24.00 and last traded at $22.06. Approximately 1,564,030 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 1,147,241 shares. The stock had previously closed at $19.53.

Analyst Upgrades and Downgrades

CPRX has been the topic of several research reports. Truist Financial increased their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Stephens started coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday. HC Wainwright boosted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday. Finally, StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.86.

Catalyst Pharmaceuticals Stock Performance

The business’s 50 day moving average price is $21.77 and its two-hundred day moving average price is $19.90. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79.

Insider Activity

In other news, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total transaction of $272,640.00. Following the sale, the insider now owns 51,391 shares in the company, valued at $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is owned by company insiders.

Institutional Trading of Catalyst Pharmaceuticals

A number of hedge funds have recently made changes to their positions in CPRX. GAMMA Investing LLC grew its stake in shares of Catalyst Pharmaceuticals by 62.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 681 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $50,000. Larson Financial Group LLC raised its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% during the 3rd quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 2,994 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at $70,000. Finally, Quantbot Technologies LP bought a new stake in Catalyst Pharmaceuticals in the third quarter worth $151,000. 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.