Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Receives $34.00 Average PT from Brokerages

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) has earned an average recommendation of “Strong Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $34.00.

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a report on Friday, March 27th. Truist Financial raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, March 25th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Friday, March 27th. Citigroup increased their target price on shares of Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Zacks Research raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CPRX. Federated Hermes Inc. increased its stake in shares of Catalyst Pharmaceuticals by 52.8% in the third quarter. Federated Hermes Inc. now owns 389,289 shares of the biopharmaceutical company’s stock valued at $7,669,000 after buying an additional 134,509 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Catalyst Pharmaceuticals by 1,216.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 165,496 shares of the biopharmaceutical company’s stock valued at $3,260,000 after buying an additional 152,925 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Catalyst Pharmaceuticals by 3,559.0% in the third quarter. Exchange Traded Concepts LLC now owns 62,971 shares of the biopharmaceutical company’s stock valued at $1,241,000 after buying an additional 61,250 shares during the period. SG Americas Securities LLC increased its stake in shares of Catalyst Pharmaceuticals by 957.5% in the third quarter. SG Americas Securities LLC now owns 83,690 shares of the biopharmaceutical company’s stock valued at $1,649,000 after buying an additional 75,776 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Catalyst Pharmaceuticals by 10.8% in the third quarter. Public Sector Pension Investment Board now owns 516,745 shares of the biopharmaceutical company’s stock valued at $10,180,000 after buying an additional 50,343 shares during the period. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Trading Up 6.7%

CPRX stock opened at $27.68 on Tuesday. The stock has a market capitalization of $3.38 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. Catalyst Pharmaceuticals has a 12 month low of $19.05 and a 12 month high of $27.71. The firm has a 50-day moving average price of $24.50 and a 200-day moving average price of $23.40.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).