Baird R W Upgrades Catalyst Pharmaceuticals (NASDAQ:CPRX) to Strong-Buy

Catalyst Pharmaceuticals (NASDAQ:CPRX) was upgraded by investment analysts at Baird R W to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

CPRX has been the subject of a number of other reports. Stephens initiated coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price for the company. Truist Financial increased their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America reiterated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Robert W. Baird began coverage on Catalyst Pharmaceuticals in a research note on Tuesday. They set an “outperform” rating and a $28.00 price objective for the company. Finally, StockNews.com lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Catalyst Pharmaceuticals has an average rating of “Buy” and an average price target of $32.25.

Catalyst Pharmaceuticals Trading Up 2.1 %

Shares of NASDAQ CPRX opened at $23.09 on Monday. The business has a fifty day simple moving average of $22.03 and a 200 day simple moving average of $20.83. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 2.25 and a beta of 0.80. Catalyst Pharmaceuticals has a one year low of $13.12 and a one year high of $24.64.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 686,996 shares in the company, valued at approximately $15,065,822.28. This trade represents a 6.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock worth $1,754,140 over the last 90 days. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPRX. Los Angeles Capital Management LLC raised its position in shares of Catalyst Pharmaceuticals by 1.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 204,024 shares of the biopharmaceutical company’s stock worth $4,258,000 after purchasing an additional 3,742 shares during the period. Bank of New York Mellon Corp raised its position in shares of Catalyst Pharmaceuticals by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 723,545 shares of the biopharmaceutical company’s stock worth $15,100,000 after purchasing an additional 9,194 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $581,000. Navellier & Associates Inc. raised its position in shares of Catalyst Pharmaceuticals by 15.2% during the fourth quarter. Navellier & Associates Inc. now owns 14,163 shares of the biopharmaceutical company’s stock worth $296,000 after purchasing an additional 1,869 shares during the period. Finally, Handelsbanken Fonder AB raised its position in shares of Catalyst Pharmaceuticals by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock worth $740,000 after purchasing an additional 1,000 shares during the period. 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.