Catalyst Pharmaceuticals (NASDAQ:CPRX) Sets New 1-Year High - Here's What Happened

Key Points

• Catalyst Pharmaceuticals (CPRX) hit a new 52-week high, trading intraday as high as $27.47 and last at $27.016 on volume of 1,288,134 shares, up from a prior close of $25.94.
• Analysts are broadly bullish — multiple firms upgraded CPRX to "strong-buy" or "buy", MarketBeat's consensus rating is Strong Buy with a consensus target of $34.00, and Citigroup raised its price objective to $35.00.
• The company has a market cap of $3.34 billion, a P/E of 16.08 and PEG of 0.74 with about 79% institutional ownership; its lead product is Firdapse® for Lambert-Eaton Myasthenic Syndrome (LEMS).

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.47 and last traded at $27.0160, with a volume of 1288134 shares. The stock had previously closed at $25.94.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPRX shares. Truist Financial upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, March 25th. Weiss Ratings restated a "buy (b-)" rating on shares of Catalyst Pharmaceuticals in a research note on Friday, March 27th. Zacks Research raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Friday, March 27th. Finally, Citigroup lifted their price objective on shares of Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus target price of $34.00.

Catalyst Pharmaceuticals Price Performance

The stock's 50-day moving average is $24.42 and its 200 day moving average is $23.37. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.74 and a beta of 0.67.

Institutional Trading of Catalyst Pharmaceuticals

A number of institutional investors have recently modified their holdings of CPRX. Parkside Financial Bank & Trust raised its position in Catalyst Pharmaceuticals by 17.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,138 shares of the biopharmaceutical company's stock worth $73,000 after acquiring an additional 469 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Catalyst Pharmaceuticals by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,428 shares of the biopharmaceutical company's stock valued at $617,000 after purchasing an additional 472 shares during the period. Jones Financial Companies Lllp boosted its holdings in Catalyst Pharmaceuticals by 14.0% during the third quarter. Jones Financial Companies Lllp now owns 4,061 shares of the biopharmaceutical company's stock worth $79,000 after buying an additional 498 shares in the last quarter. Lifestyle Asset Management Inc. grew its position in Catalyst Pharmaceuticals by 3.4% during the fourth quarter. Lifestyle Asset Management Inc. now owns 16,835 shares of the biopharmaceutical company's stock worth $393,000 after buying an additional 553 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Catalyst Pharmaceuticals by 55.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,764 shares of the biopharmaceutical company's stock worth $41,000 after buying an additional 630 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company's mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company's lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).

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