Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Sells $991,929.36 in Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) insider Gary Ingenito sold 44,904 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Catalyst Pharmaceuticals Stock Up 1.3 %

CPRX traded up $0.29 during trading on Friday, hitting $21.96. 1,021,369 shares of the company traded hands, compared to its average volume of 1,261,681. Catalyst Pharmaceuticals, Inc. has a one year low of $14.47 and a one year high of $24.64. The stock’s fifty day moving average is $22.27 and its 200 day moving average is $21.49. The firm has a market cap of $2.67 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80.

Wall Street Analyst Weigh In

A number of brokerages have commented on CPRX. Robert W. Baird boosted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday. Bank of America reiterated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Truist Financial raised their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $32.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 33,888 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Catalyst Pharmaceuticals by 13.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after buying an additional 50,888 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $1,185,000. Redhawk Wealth Advisors Inc. purchased a new stake in Catalyst Pharmaceuticals in the 4th quarter worth about $1,273,000. Finally, Spire Wealth Management raised its stake in Catalyst Pharmaceuticals by 1,342.9% in the 4th 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.

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.