Catalyst Pharmaceuticals (NASDAQ:CPRX) Hits New 1-Year High – What’s Next?

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

Wall Street Analysts Forecast Growth

CPRX has been the topic of several analyst reports. StockNews.com cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th. Truist Financial boosted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. HC Wainwright boosted their price objective on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Bank of America reissued a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Finally, Stephens began coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $32.86.

Catalyst Pharmaceuticals Stock Down 0.6 %

The company has a fifty day moving average price of $21.92 and a 200-day moving average price of $20.64. The stock has a market capitalization of $2.84 billion, a P/E ratio of 20.18, a PEG ratio of 2.28 and a beta of 0.79.

Insider Buying and Selling

In other news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total transaction of $272,640.00. Following the completion of the transaction, the insider now directly owns 51,391 shares in the company, valued at $1,167,603.52. The trade was a 18.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,500 shares of company stock worth $1,754,140 in the last three months. Corporate insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 681 shares during the period. nVerses Capital LLC acquired a new stake in Catalyst Pharmaceuticals in the third quarter valued at $50,000. Larson Financial Group LLC lifted its holdings in Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 2,994 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Catalyst Pharmaceuticals during the 4th quarter worth $65,000. Finally, KBC Group NV raised its stake in shares of Catalyst Pharmaceuticals by 48.8% during the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,542 shares during the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

About Catalyst Pharmaceuticals

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.