Catalyst Pharmaceuticals (NASDAQ:CPRX) Hits New 12-Month High – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares hit a new 52-week high during trading on Thursday . The company traded as high as $24.04 and last traded at $23.75, with a volume of 106395 shares changing hands. The stock had previously closed at $22.71.

Analyst Upgrades and Downgrades

CPRX has been the topic of several research analyst reports. StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Citigroup boosted their price target on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial increased their price target on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, HC Wainwright lifted their price objective on shares of Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $29.50.

Catalyst Pharmaceuticals Stock Up 2.4 %

The business’s 50-day simple moving average is $20.60 and its two-hundred day simple moving average is $17.97. The stock has a market cap of $2.76 billion, a P/E ratio of 42.06, a price-to-earnings-growth ratio of 3.49 and a beta of 0.75.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.13. Catalyst Pharmaceuticals had a net margin of 15.69% and a return on equity of 27.77%. The business had revenue of $122.71 million during the quarter, compared to analyst estimates of $111.76 million. Analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Carmen Jeffrey Del sold 36,058 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $18.42, for a total transaction of $664,188.36. Following the sale, the insider now owns 12,369 shares of the company’s stock, valued at approximately $227,836.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Catalyst Pharmaceuticals news, insider Carmen Jeffrey Del sold 36,058 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the completion of the transaction, the insider now directly owns 12,369 shares of the company’s stock, valued at $227,836.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David S. Tierney sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the completion of the transaction, the director now directly owns 348,874 shares in the company, valued at approximately $7,012,367.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,058 shares of company stock worth $4,018,188. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in Catalyst Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock worth $461,000 after purchasing an additional 654 shares during the last quarter. GAMMA Investing LLC boosted its stake in Catalyst Pharmaceuticals by 62.1% in the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Catalyst Pharmaceuticals by 6.9% during the first quarter. Ameritas Investment Partners Inc. now owns 11,116 shares of the biopharmaceutical company’s stock valued at $177,000 after acquiring an additional 720 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Catalyst Pharmaceuticals by 7.5% during the second quarter. XTX Topco Ltd now owns 11,134 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 773 shares in the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 6.5% in the 2nd quarter. Strategic Advocates LLC now owns 14,142 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 864 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

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.