Catalyst Pharmaceuticals (NASDAQ:CPRX) Hits New 52-Week High – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $24.98 and last traded at $24.85, with a volume of 3700 shares trading hands. The stock had previously closed at $24.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Robert W. Baird upped their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Catalyst Pharmaceuticals currently has an average rating of “Buy” and an average price target of $32.29.

Catalyst Pharmaceuticals Price Performance

The firm’s fifty day simple moving average is $22.53 and its 200 day simple moving average is $21.72. The company has a market capitalization of $3.12 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Insider Transactions at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. The trade was a 39.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the sale, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Castlekeep Investment Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $37,494,000. Bank of America Corp DE grew its stake in Catalyst Pharmaceuticals by 139.5% in the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock valued at $32,741,000 after acquiring an additional 913,843 shares during the period. abrdn plc purchased a new stake in Catalyst Pharmaceuticals in the 4th quarter worth $10,115,000. Arrowstreet Capital Limited Partnership raised its position in Catalyst Pharmaceuticals by 131.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock worth $14,570,000 after acquiring an additional 396,506 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock valued at $175,957,000 after purchasing an additional 390,116 shares in the last quarter. Institutional investors and hedge funds 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.