Catalyst Pharmaceuticals (NASDAQ:CPRX) Earns "Hold (C+)" Rating from Weiss Ratings

Key Points

• Catalyst Pharmaceuticals received a "Hold (C+)" rating from Weiss Ratings, reflecting a stable outlook amid varying analyst opinions on the stock.
• The company has initiated a $200 million stock buyback plan, indicating a belief among its board members that the shares are undervalued.
• Catalyst Pharmaceuticals has a consensus rating of "Buy" with an average price target of **$33.20**, while insider selling activity has been noted, reducing some positions among executives.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report)'s stock had its "hold (c+)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also commented on the stock. Zacks Research lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $33.20.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX traded down $0.43 on Wednesday, hitting $20.39. 1,300,744 shares of the company were exchanged, compared to its average volume of 1,633,602. Catalyst Pharmaceuticals has a twelve month low of $19.05 and a twelve month high of $26.58. The firm has a market capitalization of $2.50 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. The company's 50 day moving average price is $20.31 and its 200-day moving average price is $22.14.

Catalyst Pharmaceuticals announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Brian Elsbernd sold 30,000 shares of Catalyst Pharmaceuticals stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.30, for a total value of $609,000.00. Following the completion of the sale, the insider owned 271,039 shares of the company's stock, valued at approximately $5,502,091.70. The trade was a 9.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David S. Tierney sold 26,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the transaction, the director directly owned 379,620 shares in the company, valued at $7,668,324. The trade was a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,970 shares of company stock worth $4,927,241 in the last ninety days. Insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in Catalyst Pharmaceuticals by 38.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 144,031 shares of the biopharmaceutical company's stock worth $2,837,000 after purchasing an additional 39,656 shares during the last quarter. City Center Advisors LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the third quarter worth $254,000. Nilsine Partners LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 5.6% during the 3rd quarter. Nilsine Partners LLC now owns 134,253 shares of the biopharmaceutical company's stock worth $2,645,000 after buying an additional 7,114 shares during the period. Texas Permanent School Fund Corp grew its stake in Catalyst Pharmaceuticals by 178.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 67,934 shares of the biopharmaceutical company's stock valued at $1,474,000 after buying an additional 43,565 shares during the last quarter. Finally, Dakota Community Bank & Trust NA bought a new position in Catalyst Pharmaceuticals in the 2nd quarter worth $81,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.