Catalyst Pharmaceuticals’ (NASDAQ:CPRX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) in a research report released on Friday, November 10th. The brokerage currently has a $6.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on CPRX. Piper Jaffray Companies set a $6.00 price objective on Catalyst Pharmaceuticals and gave the company a buy rating in a research report on Monday, August 7th. Roth Capital set a $5.00 price target on Catalyst Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, August 10th. SunTrust Banks restated a buy rating and set a $5.00 price target on shares of Catalyst Pharmaceuticals in a research report on Tuesday, September 5th. Finally, Zacks Investment Research lowered Catalyst Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $5.75.

Catalyst Pharmaceuticals (NASDAQ:CPRX) traded down $0.01 during trading hours on Friday, hitting $3.97. The company’s stock had a trading volume of 1,667,600 shares, compared to its average volume of 944,284. Catalyst Pharmaceuticals has a 1 year low of $1.01 and a 1 year high of $4.07.

In other news, insider Patrick J. Mcenany bought 20,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was bought at an average price of $2.58 per share, for a total transaction of $51,600.00. Following the purchase, the insider now directly owns 4,471,026 shares in the company, valued at approximately $11,535,247.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at approximately $111,000. New York State Common Retirement Fund purchased a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at approximately $114,000. Bank of New York Mellon Corp lifted its stake in shares of Catalyst Pharmaceuticals by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 69,176 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 2,404 shares during the period. SG Americas Securities LLC purchased a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at approximately $144,000. Finally, State of Wisconsin Investment Board purchased a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at approximately $149,000. Institutional investors own 41.31% of the company’s stock.

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Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.

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