Catalyst Pharmaceuticals (NASDAQ:CPRX) Trading 6.2% Higher - What's Next?

Key Points

• Shares of Catalyst Pharmaceuticals (CPRX) rose 6.2% on Monday to about $29.07 intraday, with 534,531 shares traded — roughly a 58% drop versus average session volume.
• Analysts are largely bullish: the stock carries an average rating of Strong Buy with an average price target of $34, and several firms (Zacks, Cantor Fitzgerald, Truist, Citigroup) recently upgraded or raised their targets.
• Catalyst is a biopharmaceutical company best known for its lead product, Firdapse® (amifampridine), an FDA‑approved treatment for Lambert‑Eaton Myasthenic Syndrome (LEMS).

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) shares shot up 6.2% on Monday . The company traded as high as $28.96 and last traded at $29.07. 534,531 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 1,267,349 shares. The stock had previously closed at $27.37.

Wall Street Analysts Forecast Growth

CPRX has been the subject of several research reports. Zacks Research raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Catalyst Pharmaceuticals in a research note on Friday, March 27th. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Friday, March 27th. Truist Financial upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, March 25th. Finally, Citigroup upped their price objective on Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of $34.00.

Catalyst Pharmaceuticals Stock Up 7.6%

The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.79 and a beta of 0.67. The company's fifty day moving average is $24.56 and its 200 day moving average is $23.48.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of Catalyst Pharmaceuticals by 39.1% during the 1st quarter. Royal Bank of Canada now owns 213,469 shares of the biopharmaceutical company's stock worth $5,177,000 after purchasing an additional 60,040 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Catalyst Pharmaceuticals by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,052 shares of the biopharmaceutical company's stock valued at $1,749,000 after buying an additional 3,800 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Catalyst Pharmaceuticals by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company's stock valued at $76,035,000 after buying an additional 333,100 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Catalyst Pharmaceuticals by 99.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,297 shares of the biopharmaceutical company's stock worth $12,763,000 after buying an additional 262,392 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Catalyst Pharmaceuticals by 6.5% during the first quarter. Intech Investment Management LLC now owns 70,087 shares of the biopharmaceutical company's stock worth $1,700,000 after acquiring an additional 4,261 shares in the last quarter. Institutional investors own 79.22% of the company's stock.

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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