Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Sells $1,447,165.50 in Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) insider Brian Elsbernd sold 62,975 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the sale, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Catalyst Pharmaceuticals Stock Up 1.3 %

NASDAQ CPRX opened at $21.96 on Friday. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $24.64. The firm has a market cap of $2.67 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80. The company has a 50 day moving average price of $22.27 and a 200 day moving average price of $21.49.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CPRX. Castlekeep Investment Advisors LLC acquired a new position in Catalyst Pharmaceuticals during the 4th quarter valued at approximately $37,494,000. Bank of America Corp DE increased its stake in Catalyst Pharmaceuticals by 139.5% during the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock valued at $32,741,000 after purchasing an additional 913,843 shares in the last quarter. abrdn plc acquired a new position in Catalyst Pharmaceuticals during the 4th quarter valued at approximately $10,115,000. Arrowstreet Capital Limited Partnership increased its stake in Catalyst Pharmaceuticals by 131.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock valued at $14,570,000 after purchasing an additional 396,506 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock valued at $175,957,000 after purchasing an additional 390,116 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Truist Financial upped their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America reaffirmed a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Stephens reiterated an “overweight” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $32.50.

About Catalyst Pharmaceuticals

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.