Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock Price Down 5.2% - Time to Sell?

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) dropped 5.2% during mid-day trading on Thursday . The stock traded as low as $23.58 and last traded at $24.09. Approximately 878,006 shares traded hands during trading, a decline of 31% from the average daily volume of 1,263,655 shares. The stock had previously closed at $25.41.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Robert W. Baird lifted their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. HC Wainwright reaffirmed a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Stephens reiterated an "overweight" rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Finally, Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Six research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $32.83.

Catalyst Pharmaceuticals Trading Down 2.8%

The firm has a market capitalization of $2.88 billion, a P/E ratio of 20.01, a P/E/G ratio of 3.31 and a beta of 0.72. The company has a 50 day simple moving average of $23.81 and a two-hundred day simple moving average of $22.85.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Preethi Sundaram sold 1,600 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the sale, the insider now directly owns 41,081 shares of the company's stock, valued at approximately $1,085,360.02. The trade was a 3.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Ingenito sold 44,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the completion of the sale, the insider now owns 68,873 shares of the company's stock, valued at approximately $1,627,468.99. This trade represents a 38.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 247,924 shares of company stock valued at $5,879,369 in the last ninety days. Corporate insiders own 10.40% of the company's stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of Catalyst Pharmaceuticals by 125.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 1,495 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company's stock worth $8,710,000 after acquiring an additional 50,888 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Catalyst Pharmaceuticals by 91.5% in the 4th quarter. Sanctuary Advisors LLC now owns 59,447 shares of the biopharmaceutical company's stock valued at $1,241,000 after purchasing an additional 28,407 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Catalyst Pharmaceuticals by 29.8% in the fourth quarter. Natixis Advisors LLC now owns 59,253 shares of the biopharmaceutical company's stock valued at $1,237,000 after purchasing an additional 13,616 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its stake in Catalyst Pharmaceuticals by 18.7% during the 4th quarter. Teacher Retirement System of Texas now owns 31,655 shares of the biopharmaceutical company's stock worth $661,000 after purchasing an additional 4,996 shares in the last quarter. 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.