Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Down 6.3%

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price was down 6.3% on Tuesday . The company traded as low as $3.94 and last traded at $4.01. Approximately 2,125,784 shares traded hands during trading, an increase of 13% from the average daily volume of 1,880,325 shares. The stock had previously closed at $4.28.

A number of analysts have weighed in on CPRX shares. TheStreet upgraded Catalyst Pharmaceuticals from a “c+” rating to a “b-” rating in a report on Thursday, February 18th. Piper Sandler cut their target price on Catalyst Pharmaceuticals from $6.00 to $5.50 and set an “overweight” rating on the stock in a research report on Tuesday, November 10th. Four investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $7.83.

The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $3.49. The company has a market capitalization of $416.15 million, a price-to-earnings ratio of 6.39 and a beta of 1.53.

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in Catalyst Pharmaceuticals by 14.3% during the 3rd quarter. State Street Corp now owns 7,632,352 shares of the biopharmaceutical company’s stock worth $22,668,000 after purchasing an additional 955,751 shares during the period. Wedge Capital Management L L P NC grew its position in Catalyst Pharmaceuticals by 52.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 188,936 shares of the biopharmaceutical company’s stock worth $631,000 after purchasing an additional 64,735 shares during the period. LSV Asset Management grew its position in Catalyst Pharmaceuticals by 839.5% during the 3rd quarter. LSV Asset Management now owns 1,594,237 shares of the biopharmaceutical company’s stock worth $4,734,000 after purchasing an additional 1,424,544 shares during the period. Federated Hermes Inc. grew its position in Catalyst Pharmaceuticals by 13.1% during the 3rd quarter. Federated Hermes Inc. now owns 632,832 shares of the biopharmaceutical company’s stock worth $1,879,000 after purchasing an additional 73,385 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Catalyst Pharmaceuticals during the 3rd quarter worth about $61,000. 64.86% of the stock is currently owned by institutional investors.

About Catalyst Pharmaceuticals (NASDAQ:CPRX)

Catalyst Pharmaceuticals, Inc, a 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, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome.

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