Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Up 5.4% – Time to Buy?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price shot up 5.4% during mid-day trading on Wednesday . The company traded as high as $23.75 and last traded at $24.08. 164,218 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,473,637 shares. The stock had previously closed at $22.84.

Wall Street Analysts Forecast Growth

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

Catalyst Pharmaceuticals Stock Up 4.3 %

The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.28 and a beta of 0.79. The business’s 50-day simple moving average is $21.86 and its two-hundred day simple moving average is $20.61.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Steve Miller sold 50,000 shares of the stock in a transaction 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 transaction, 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 SEC, which is available through this hyperlink. Also, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,500 shares of company stock worth $1,754,140 over the last three months. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in Catalyst Pharmaceuticals by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock worth $61,681,000 after buying an additional 151,495 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Catalyst Pharmaceuticals by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock worth $23,215,000 after purchasing an additional 50,804 shares during the period. Point72 Asset Management L.P. increased its stake in Catalyst Pharmaceuticals by 47.9% in the second quarter. Point72 Asset Management L.P. now owns 618,296 shares of the biopharmaceutical company’s stock valued at $9,577,000 after purchasing an additional 200,370 shares during the period. AQR Capital Management LLC raised its holdings in shares of Catalyst Pharmaceuticals by 87.1% in the second quarter. AQR Capital Management LLC now owns 488,386 shares of the biopharmaceutical company’s stock valued at $7,565,000 after buying an additional 227,321 shares during the last quarter. Finally, abrdn plc acquired a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $10,115,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

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.