Catalyst Pharmaceuticals (NASDAQ:CPRX) Reaches New 1-Year High – Still a Buy?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $24.64 and last traded at $23.71, with a volume of 95469 shares trading hands. The stock had previously closed at $23.96.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CPRX shares. HC Wainwright increased their price target on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Truist Financial lifted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America reissued a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. StockNews.com lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Finally, Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price target for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $32.86.

Catalyst Pharmaceuticals Stock Performance

The company has a 50 day moving average of $21.92 and a 200-day moving average of $20.64. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.28 and a beta of 0.79.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 12,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This trade represents a 18.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the completion of the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at $15,065,822.28. This represents a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. abrdn plc bought a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth approximately $10,115,000. Jane Street Group LLC lifted its holdings in Catalyst Pharmaceuticals by 245.4% in the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock valued at $7,990,000 after acquiring an additional 285,564 shares during the last quarter. Walleye Capital LLC acquired a new stake in Catalyst Pharmaceuticals in the 3rd quarter valued at about $4,936,000. AQR Capital Management LLC lifted its stake in Catalyst Pharmaceuticals by 87.1% during the second quarter. AQR Capital Management LLC now owns 488,386 shares of the biopharmaceutical company’s stock valued at $7,565,000 after buying an additional 227,321 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Catalyst Pharmaceuticals by 146.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 366,444 shares of the biopharmaceutical company’s stock worth $7,285,000 after purchasing an additional 217,956 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

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.