Catalyst Pharmaceuticals (NASDAQ:CPRX) Reaches New 12-Month High – What’s Next?

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price reached a new 52-week high on Monday . The company traded as high as $24.98 and last traded at $24.85, with a volume of 3700 shares changing hands. The stock had previously closed at $24.23.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CPRX shares. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Bank of America reiterated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Robert W. Baird increased their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Finally, Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of “Buy” and an average price target of $32.29.

Catalyst Pharmaceuticals Stock Performance

The business has a 50 day moving average price of $22.39 and a 200-day moving average price of $21.63. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 3.31 and a beta of 0.84.

Insider Buying and Selling

In other news, insider Brian Elsbernd sold 62,975 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the sale, the insider now directly owns 188,564 shares in the company, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 owns 68,873 shares in the company, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of 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 period. Allspring Global Investments Holdings LLC increased its position in shares of Catalyst Pharmaceuticals by 13.9% in 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 purchasing an additional 50,888 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at approximately $1,185,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter valued at approximately $1,273,000. Finally, Spire Wealth Management boosted its holdings in shares of 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 buying an additional 13,429 shares in 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.