Catalyst Pharmaceuticals (NASDAQ:CPRX) Trading Down 7.5% on Analyst Downgrade

Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) shares traded down 7.5% on Wednesday after Piper Jaffray Companies lowered their price target on the stock from $8.00 to $7.00. The stock traded as low as $4.25 and last traded at $4.54, 6,512,300 shares were traded during trading. An increase of 222% from the average session volume of 2,020,185 shares. The stock had previously closed at $4.91.

Other research analysts have also recently issued reports about the stock. BidaskClub raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 3rd. SunTrust Banks reissued a “buy” rating and set a $11.00 price objective (up from $9.00) on shares of Catalyst Pharmaceuticals in a report on Thursday, August 8th. Zacks Investment Research raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Wednesday, July 31st. Cantor Fitzgerald boosted their price objective on shares of Catalyst Pharmaceuticals from $10.00 to $12.00 in a report on Thursday, August 8th. Finally, ValuEngine cut shares of Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.46.

In other Catalyst Pharmaceuticals news, CEO Patrick J. Mcenany bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average cost of $4.89 per share, for a total transaction of $48,900.00. Following the completion of the transaction, the chief executive officer now owns 4,772,693 shares of the company’s stock, valued at approximately $23,338,468.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRX. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 122.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 94,960 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 52,260 shares in the last quarter. Gables Capital Management Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 1.3% during the second quarter. Gables Capital Management Inc. now owns 486,064 shares of the biopharmaceutical company’s stock worth $1,869,000 after buying an additional 6,300 shares in the last quarter. Swiss National Bank acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter worth $661,000. Chicago Equity Partners LLC acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter worth $627,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 678.1% during the second quarter. Meeder Asset Management Inc. now owns 13,251 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 11,548 shares in the last quarter. Institutional investors own 62.49% of the company’s stock.

The firm’s fifty day moving average price is $5.09 and its 200-day moving average price is $4.80. The company has a market capitalization of $522.19 million, a price-to-earnings ratio of -13.76 and a beta of 2.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.09 and a quick ratio of 5.07.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $30.90 million during the quarter, compared to the consensus estimate of $33.19 million. On average, research analysts predict that Catalyst Pharmaceuticals Inc will post 0.34 earnings per share for the current year.

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. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.

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