HC Wainwright Boosts Catalyst Pharmaceuticals (NASDAQ:CPRX) Price Target to $35.00

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its target price raised by HC Wainwright from $30.00 to $35.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the stock. Stephens started coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price target on the stock. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday. Finally, Truist Financial raised their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Catalyst Pharmaceuticals has an average rating of “Buy” and an average target price of $32.86.

Catalyst Pharmaceuticals Stock Down 3.9 %

Shares of NASDAQ:CPRX opened at $21.92 on Friday. The company has a market capitalization of $2.61 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.35 and a beta of 0.79. The stock’s fifty day simple moving average is $21.77 and its 200-day simple moving average is $19.90. Catalyst Pharmaceuticals has a 52-week low of $13.12 and a 52-week high of $24.27.

Insider Activity

In related news, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the transaction, the insider now owns 51,391 shares in the company, valued at approximately $1,167,603.52. This trade represents a 18.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Harper sold 17,500 shares of the company’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 sold 79,500 shares of company stock valued at $1,754,140 in the last ninety days. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at $1,185,000. Susquehanna Fundamental Investments LLC acquired a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $258,000. Integral Health Asset Management LLC purchased a new position in Catalyst Pharmaceuticals in the second quarter valued at about $4,260,000. GSA Capital Partners LLP acquired a new position in shares of Catalyst Pharmaceuticals during the third quarter worth about $625,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the third quarter worth about $708,000. 79.22% of the stock is owned by institutional investors and hedge funds.

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.