Catalyst Pharmaceuticals (NASDAQ:CPRX) Reaches New 12-Month High – What’s Next?

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) reached a new 52-week high during mid-day 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 Analyst Weigh In

A number of brokerages recently commented on CPRX. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Robert W. Baird upped their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, Baird R W raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.29.

Catalyst Pharmaceuticals Trading Up 6.8 %

The company has a market cap of $3.14 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The firm has a fifty day moving average of $22.39 and a two-hundred day moving average of $21.63.

Insider Buying and Selling

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

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC boosted its stake in Catalyst Pharmaceuticals by 37.7% in the 3rd quarter. Natixis Advisors LLC now owns 45,637 shares of the biopharmaceutical company’s stock worth $907,000 after purchasing an additional 12,491 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth $808,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth $200,000. Intech Investment Management LLC acquired a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at about $644,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Catalyst Pharmaceuticals by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock worth $23,215,000 after buying an additional 50,804 shares during the period. 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.