Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to Hold at StockNews.com

Posted by on Jun 23rd, 2023

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Other research analysts have also recently issued research reports about the company. Piper Sandler increased their target price on Catalyst Pharmaceuticals from $21.00 to $24.00 in a research note on Wednesday. Truist Financial raised their price objective on Catalyst Pharmaceuticals from $22.00 to $24.00 in a research note on Tuesday. Finally, Cantor Fitzgerald raised their price objective on Catalyst Pharmaceuticals from $22.00 to $25.00 in a research note on Friday, March 17th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

Catalyst Pharmaceuticals Stock Down 0.9 %

CPRX opened at $13.13 on Friday. The stock has a market cap of $1.39 billion, a PE ratio of 14.92 and a beta of 1.10. Catalyst Pharmaceuticals has a 52 week low of $6.43 and a 52 week high of $22.11. The business’s fifty day simple moving average is $13.96 and its 200 day simple moving average is $15.88.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Rating) last released its earnings results on Wednesday, May 10th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). The firm had revenue of $85.37 million during the quarter, compared to the consensus estimate of $83.04 million. Catalyst Pharmaceuticals had a net margin of 38.76% and a return on equity of 34.72%. As a group, equities analysts anticipate that Catalyst Pharmaceuticals will post 1.13 earnings per share for the current year.

Insider Transactions at Catalyst Pharmaceuticals

In other news, CEO Patrick J. Mcenany sold 26,151 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.23, for a total transaction of $345,977.73. Following the completion of the sale, the chief executive officer now directly owns 3,945,436 shares in the company, valued at $52,198,118.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Catalyst Pharmaceuticals news, CFO Alicia Grande sold 58,216 shares of the firm’s stock in a transaction dated Tuesday, March 28th. The shares were sold at an average price of $16.54, for a total value of $962,892.64. Following the completion of the sale, the chief financial officer now directly owns 50,557 shares in the company, valued at $836,212.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick J. Mcenany sold 26,151 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $13.23, for a total transaction of $345,977.73. Following the completion of the sale, the chief executive officer now owns 3,945,436 shares of the company’s stock, valued at $52,198,118.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,367 shares of company stock worth $2,481,770. Company insiders own 14.10% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $31,000. Advisory Services Network LLC increased its position in shares of Catalyst Pharmaceuticals by 260.2% during the first quarter. Advisory Services Network LLC now owns 1,801 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 1,301 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of Catalyst Pharmaceuticals by 400.0% during the first quarter. Toth Financial Advisory Corp now owns 2,500 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 2,000 shares in the last quarter. Nvwm LLC bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter valued at approximately $44,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Catalyst Pharmaceuticals by 122.0% during the first quarter. Nisa Investment Advisors LLC now owns 2,820 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 1,550 shares in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

About Catalyst Pharmaceuticals

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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.

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