Catalyst Pharmaceuticals (NASDAQ:CPRX) Downgraded by Zacks Research to "Hold"

Key Points

• Catalyst Pharmaceuticals has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting reduced optimism among analysts.
• Despite recent downgrades, the stock maintains a consensus rating of "Buy" with an average price target of $33.20.
• Insider activity includes the sale of 1,600 shares by Preethi Sundaram, contributing to a decrease of 3.75% in their ownership position.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday, August 19th,Zacks.com reports.

Several other research analysts have also recently commented on the company. Wall Street Zen cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals has an average rating of "Buy" and an average price target of $33.20.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ CPRX traded down $0.71 during trading on Tuesday, reaching $19.91. The stock had a trading volume of 648,928 shares, compared to its average volume of 1,309,460. Catalyst Pharmaceuticals has a fifty-two week low of $19.00 and a fifty-two week high of $26.58. The business's 50-day moving average price is $21.23 and its 200-day moving average price is $22.58. The company has a market cap of $2.44 billion, a P/E ratio of 12.07, a PEG ratio of 0.86 and a beta of 0.70.

Insider Transactions at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 1,600 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the sale, the insider directly owned 41,081 shares of the company's stock, valued at $1,085,360.02. The trade was a 3.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is owned by company insiders.

Institutional Trading of Catalyst Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter valued at about $29,000. Huntington National Bank increased its position in Catalyst Pharmaceuticals by 105.0% in the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 734 shares during the period. Sound Income Strategies LLC acquired a new position in Catalyst Pharmaceuticals in the 1st quarter valued at about $64,000. GAMMA Investing LLC increased 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 purchasing an additional 579 shares during the period. Finally, Quarry LP acquired a new position in Catalyst Pharmaceuticals during the 4th quarter worth approximately $104,000. 79.22% of the stock is owned by hedge funds and other 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.