Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Gap Up – What’s Next?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $20.58, but opened at $22.32. Catalyst Pharmaceuticals shares last traded at $22.61, with a volume of 323,057 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday. Bank of America restated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. HC Wainwright restated a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday. Stephens restated an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday. Finally, Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Catalyst Pharmaceuticals Stock Up 5.7 %

The stock has a fifty day moving average of $22.24 and a 200-day moving average of $21.43. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 3.31 and a beta of 0.80.

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the completion of the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at approximately $15,065,822.28. This represents a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Catalyst Pharmaceuticals by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after acquiring an additional 33,888 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Catalyst Pharmaceuticals in the third quarter valued at approximately $1,185,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $1,273,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 13.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after acquiring an additional 50,888 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Catalyst Pharmaceuticals by 1,342.9% in the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 13,429 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

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.