Catalyst Pharmaceuticals (NASDAQ:CPRX) Upgraded at Zacks Research

Catalyst Pharmaceuticals (NASDAQ:CPRX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on CPRX. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Monday, December 29th. Finally, Citigroup raised their target price on Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.00.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $24.69 on Tuesday. The stock’s 50-day simple moving average is $23.86 and its two-hundred day simple moving average is $22.30. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.71 and a beta of 0.75. Catalyst Pharmaceuticals has a 52-week low of $19.05 and a 52-week high of $26.58.

Insider Activity at Catalyst Pharmaceuticals

In related news, Director Molly Harper sold 26,746 shares of Catalyst Pharmaceuticals stock in a transaction on Friday, December 12th. The shares were sold at an average price of $23.25, for a total transaction of $621,844.50. Following the transaction, the director owned 2,360 shares in the company, valued at approximately $54,870. The trade was a 91.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Catalyst Pharmaceuticals by 7.8% during the fourth quarter. State Street Corp now owns 6,907,622 shares of the biopharmaceutical company’s stock valued at $161,224,000 after acquiring an additional 502,235 shares during the period. Deerfield Management Company L.P. raised its stake in Catalyst Pharmaceuticals by 72.8% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock valued at $98,003,000 after purchasing an additional 2,095,291 shares during the period. Fundsmith LLP lifted its holdings in Catalyst Pharmaceuticals by 24.2% in the 3rd quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock worth $66,267,000 after purchasing an additional 654,721 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Catalyst Pharmaceuticals by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock worth $76,035,000 after purchasing an additional 333,100 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Catalyst Pharmaceuticals by 21.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,996,297 shares of the biopharmaceutical company’s stock worth $69,933,000 after purchasing an additional 538,128 shares during the period. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).