Catalyst Pharmaceuticals (NASDAQ:CPRX) Lowered to Hold Rating 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.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently commented on CPRX. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Zacks Research cut shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $33.20.

Catalyst Pharmaceuticals Stock Down 1.4%

CPRX stock opened at $19.97 on Friday. The firm's fifty day simple moving average is $20.70 and its two-hundred day simple moving average is $22.36. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.82 and a beta of 0.85. Catalyst Pharmaceuticals has a twelve month low of $19.15 and a twelve month high of $26.58.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, CEO Richard J. Daly sold 22,970 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the transaction, the chief executive officer directly owned 226,794 shares in the company, valued at $4,676,492.28. This represents a 9.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the sale, the insider directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 243,970 shares of company stock valued at $4,927,241 in the last 90 days. Insiders own 10.40% of the company's stock.

Institutional Trading of Catalyst Pharmaceuticals

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 4th quarter worth approximately $29,000. Huntington National Bank raised its position in Catalyst Pharmaceuticals by 105.0% during 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 during the 1st quarter worth approximately $64,000. GAMMA Investing LLC raised its position in Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after buying an additional 579 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of 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 worth $133,000 after purchasing an additional 2,002 shares during the period. 79.22% of the stock is currently 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.

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