Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock Rating Lowered by Wall Street Zen

Key Points

• Catalyst Pharmaceuticals has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, although it continues to hold a consensus rating of "Buy" with an average target price of $33.20.
• The stock recently opened at $19.97 and has experienced a 1.4% decline, with a market capitalization of $2.44 billion.
• Insider transactions include significant sales from CEO Richard J. Daly and insider Brian Elsbernd, indicating a 9.20% and 9.97% decrease in their stock positions, respectively.

Wall Street Zen lowered shares of Catalyst Pharmaceuticals (NASDAQ:CPRX - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $33.20.

Catalyst Pharmaceuticals Stock Up 1.9%

Shares of CPRX stock traded up $0.38 on Friday, reaching $20.40. The stock had a trading volume of 1,399,429 shares, compared to its average volume of 1,500,138. The firm's 50-day moving average is $20.61 and its two-hundred day moving average is $22.31. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.81 and a beta of 0.85. Catalyst Pharmaceuticals has a 12 month low of $19.15 and a 12 month high of $26.58.

Insider Activity at Catalyst Pharmaceuticals

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

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Square Financial Group LLC purchased a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $29,000. Huntington National Bank increased its holdings in shares of Catalyst Pharmaceuticals by 105.0% in the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 734 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Catalyst Pharmaceuticals in the 1st quarter worth $64,000. GAMMA Investing LLC boosted its position in Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock valued at $68,000 after buying an additional 579 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Catalyst Pharmaceuticals by 57.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock valued at $133,000 after buying an additional 2,002 shares during the period. 79.22% of the stock is owned by institutional investors.

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.