Catalyst Pharmaceuticals (NASDAQ:CPRX) Trading Up 9.5% - What's Next?

Key Points

• Catalyst Pharmaceuticals' stock price increased by 9.5% during mid-day trading, reaching $21.57 after a previous close of $19.70.
• Several analysts have recently upgraded the stock's ratings, with two giving a "Strong Buy" rating and an average price target of $33.20.
• Insiders recently sold significant shares, with CEO Richard J. Daly selling 22,970 shares, indicating a 9.20% decrease in their ownership.

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report)'s stock price was up 9.5% during mid-day trading on Wednesday . The stock traded as high as $21.35 and last traded at $21.57. Approximately 425,337 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,348,980 shares. The stock had previously closed at $19.70.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CPRX shares. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Zacks Research lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen upgraded Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Sunday, September 21st. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $33.20.

Catalyst Pharmaceuticals Stock Performance

The firm has a market cap of $2.68 billion, a P/E ratio of 13.28, a P/E/G ratio of 0.79 and a beta of 0.85. The firm has a fifty day moving average of $20.35 and a 200-day moving average of $22.22.

Insider Activity

In other news, insider Steve Miller sold 115,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $2,332,200.00. Following the transaction, the insider directly owned 949,663 shares of the company's stock, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the sale, the chief executive officer owned 226,794 shares in the company, valued at approximately $4,676,492.28. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 243,970 shares of company stock worth $4,927,241. 10.40% of the stock is owned by insiders.

Institutional Trading of Catalyst Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its holdings in shares of Catalyst Pharmaceuticals by 178.8% in the second quarter. Texas Permanent School Fund Corp now owns 67,934 shares of the biopharmaceutical company's stock valued at $1,474,000 after acquiring an additional 43,565 shares in the last quarter. Dakota Community Bank & Trust NA bought a new position in Catalyst Pharmaceuticals during the 2nd quarter valued at $81,000. Osaic Holdings Inc. boosted its stake in Catalyst Pharmaceuticals by 304.0% during the 2nd quarter. Osaic Holdings Inc. now owns 44,273 shares of the biopharmaceutical company's stock valued at $1,012,000 after purchasing an additional 33,314 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Catalyst Pharmaceuticals by 2.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 84,309 shares of the biopharmaceutical company's stock valued at $1,830,000 after purchasing an additional 1,957 shares during the period. Finally, State of Wyoming raised its stake in shares of Catalyst Pharmaceuticals by 43.6% in the 2nd quarter. State of Wyoming now owns 18,155 shares of the biopharmaceutical company's stock worth $394,000 after buying an additional 5,508 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Company Profile

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.

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