Catalyst Pharmaceuticals (NASDAQ:CPRX) Cut to "Hold" at Zacks Research

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 analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $33.20.

Catalyst Pharmaceuticals Stock Down 2.2%

Shares of CPRX traded down $0.46 during midday trading on Tuesday, hitting $20.62. The company's stock had a trading volume of 1,748,775 shares, compared to its average volume of 1,311,529. Catalyst Pharmaceuticals has a one year low of $19.00 and a one year high of $26.58. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70. The company's fifty day simple moving average is $21.29 and its two-hundred day simple moving average is $22.60.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Preethi Sundaram sold 1,600 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the sale, the insider owned 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 filing with the SEC, which is accessible through the SEC website. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,495,580 shares of the biopharmaceutical company's stock valued at $206,018,000 after purchasing an additional 64,486 shares during the period. Goldman Sachs Group Inc. grew its stake in Catalyst Pharmaceuticals by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company's stock worth $76,035,000 after purchasing an additional 333,100 shares during the period. Geode Capital Management LLC grew its stake in Catalyst Pharmaceuticals by 3.7% during the second quarter. Geode Capital Management LLC now owns 2,866,683 shares of the biopharmaceutical company's stock worth $62,214,000 after purchasing an additional 101,127 shares during the period. Bank of America Corp DE grew its stake in Catalyst Pharmaceuticals by 30.6% during the second quarter. Bank of America Corp DE now owns 2,365,675 shares of the biopharmaceutical company's stock worth $51,335,000 after purchasing an additional 554,200 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $37,494,000. Institutional investors and hedge funds own 79.22% of the company's stock.

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.