Catalyst Pharmaceuticals’ (CPRX) Buy Rating Reiterated at Bank of America

Catalyst Pharmaceuticals (NASDAQ:CPRX)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America in a report issued on Thursday,Benzinga reports. They currently have a $30.00 target price on the biopharmaceutical company’s stock. Bank of America‘s price objective would indicate a potential upside of 31.58% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial upped their target price on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 11th. Stephens began coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $32.14.

Catalyst Pharmaceuticals Trading Up 16.7 %

Shares of NASDAQ:CPRX traded up $3.27 during trading on Thursday, hitting $22.80. 3,087,861 shares of the company were exchanged, compared to its average volume of 1,496,892. The firm has a fifty day moving average price of $21.72 and a two-hundred day moving average price of $19.86. Catalyst Pharmaceuticals has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 3.35 and a beta of 0.79.

Insider Activity

In related news, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total value of $385,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Miller sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the sale, the insider now directly owns 686,996 shares in the company, valued at $15,065,822.28. The trade was a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,500 shares of company stock worth $1,754,140. Corporate insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CPRX. Dimensional Fund Advisors LP boosted its position in Catalyst Pharmaceuticals by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock valued at $46,479,000 after acquiring an additional 263,099 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 130,918.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after purchasing an additional 2,965,310 shares during the period. Renaissance Technologies LLC boosted its position in shares of Catalyst Pharmaceuticals by 15.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock valued at $33,702,000 after purchasing an additional 287,300 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Catalyst Pharmaceuticals by 4.5% during the third 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. Finally, Point72 Asset Management L.P. increased its holdings 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 worth $9,577,000 after purchasing an additional 200,370 shares in the last quarter. 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.