Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Preethi Sundaram Sells 1,600 Shares

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) insider Preethi Sundaram sold 1,600 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the sale, the insider now owns 41,081 shares of the company's stock, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Preethi Sundaram also recently made the following trade(s):

• On Tuesday, June 10th, Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock. The shares were sold at an average price of $26.41, for a total value of $61,376.84.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX traded down $0.56 during trading hours on Friday, hitting $23.73. 522,421 shares of the company were exchanged, compared to its average volume of 1,124,600. The company's 50 day moving average price is $23.81 and its 200-day moving average price is $22.85. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.75 and a 52-week high of $26.58. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 3.31 and a beta of 0.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CPRX. Castlekeep Investment Advisors LLC acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth about $37,494,000. Bank of America Corp DE grew its stake in shares of Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock worth $32,741,000 after acquiring an additional 913,843 shares in the last quarter. Nuveen LLC purchased a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at about $17,185,000. MetLife Investment Management LLC raised its holdings in Catalyst Pharmaceuticals by 963.5% in the first quarter. MetLife Investment Management LLC now owns 724,091 shares of the biopharmaceutical company's stock valued at $17,559,000 after acquiring an additional 656,004 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Catalyst Pharmaceuticals by 397.8% in the 1st quarter. Allianz Asset Management GmbH now owns 694,125 shares of the biopharmaceutical company's stock valued at $16,833,000 after purchasing an additional 554,674 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CPRX shares. Stephens reaffirmed an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Wall Street Zen raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. HC Wainwright reiterated a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Finally, Robert W. Baird boosted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $32.83.

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.