Zacks Research Upgrades Catalyst Pharmaceuticals (NASDAQ:CPRX) to Strong-Buy

Catalyst Pharmaceuticals (NASDAQ:CPRX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on CPRX. Weiss Ratings restated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Finally, Citigroup lifted their price objective on Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $34.00.

Catalyst Pharmaceuticals Trading Up 3.2%

Shares of CPRX stock opened at $24.69 on Tuesday. The company’s fifty day moving average price is $23.86 and its 200-day moving average price is $22.30. The stock has a market cap of $3.02 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.75. Catalyst Pharmaceuticals has a 12 month low of $19.05 and a 12 month high of $26.58.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the sale, the director directly owned 2,360 shares in the company, valued at approximately $54,870. This trade represents a 91.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors have recently modified their holdings of the business. State Street Corp raised its position in Catalyst Pharmaceuticals by 7.8% in the 4th quarter. State Street Corp now owns 6,907,622 shares of the biopharmaceutical company’s stock worth $161,224,000 after buying an additional 502,235 shares during the last quarter. Deerfield Management Company L.P. lifted its position in Catalyst Pharmaceuticals by 72.8% during the third quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock valued at $98,003,000 after purchasing an additional 2,095,291 shares during the period. Fundsmith LLP boosted its holdings in Catalyst Pharmaceuticals by 24.2% in the third quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock worth $66,267,000 after purchasing an additional 654,721 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Catalyst Pharmaceuticals by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock worth $76,035,000 after purchasing an additional 333,100 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Catalyst Pharmaceuticals by 21.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,996,297 shares of the biopharmaceutical company’s stock worth $69,933,000 after purchasing an additional 538,128 shares during the period. 79.22% of the stock is owned by hedge funds and other institutional investors.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).