Insider Selling: Catalyst Pharmaceuticals (NASDAQ:CPRX) Insider Sells 30,000 Shares of Stock

Key Points

• Insider Selling: Brian Elsbernd, an insider at Catalyst Pharmaceuticals, sold 30,000 shares at an average price of $20.30, totaling $609,000, decreasing his ownership by 9.97%.
• Stock Performance: Catalyst Pharmaceuticals' stock is currently down 1.3%, trading at $19.74, with a market capitalization of $2.42 billion.
• Analyst Ratings: Several brokerages have recently adjusted their ratings on Catalyst Pharmaceuticals, with Cantor Fitzgerald upgrading it to a "strong-buy" and Zacks Research downgrading it to a "hold."

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) insider Brian Elsbernd sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.30, for a total transaction of $609,000.00. Following the sale, the insider directly owned 271,039 shares of the company's stock, valued at $5,502,091.70. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Brian Elsbernd also recently made the following trade(s):

• On Thursday, September 4th, Brian Elsbernd sold 30,000 shares of Catalyst Pharmaceuticals stock. The stock was sold at an average price of $19.52, for a total transaction of $585,600.00.
• On Wednesday, September 3rd, Brian Elsbernd sold 20,000 shares of Catalyst Pharmaceuticals stock. The stock was sold at an average price of $20.08, for a total transaction of $401,600.00.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock traded down $0.21 during mid-day trading on Monday, reaching $19.76. 1,669,293 shares of the company were exchanged, compared to its average volume of 1,445,183. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.15 and a fifty-two week high of $26.58. The company has a market capitalization of $2.42 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.80 and a beta of 0.85. The business's 50 day simple moving average is $20.68 and its 200 day simple moving average is $22.36.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CPRX. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $33.20.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its stake in Catalyst Pharmaceuticals by 304.0% during the second quarter. Osaic Holdings Inc. now owns 44,273 shares of the biopharmaceutical company's stock worth $1,012,000 after purchasing an additional 33,314 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Catalyst Pharmaceuticals by 2.4% in the second quarter. Thrivent Financial for Lutherans now owns 84,309 shares of the biopharmaceutical company's stock valued at $1,830,000 after buying an additional 1,957 shares during the last quarter. State of Wyoming lifted its stake in Catalyst Pharmaceuticals by 43.6% in the second quarter. State of Wyoming now owns 18,155 shares of the biopharmaceutical company's stock valued at $394,000 after buying an additional 5,508 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Catalyst Pharmaceuticals by 321.3% in the second quarter. Nomura Holdings Inc. now owns 88,821 shares of the biopharmaceutical company's stock valued at $1,927,000 after buying an additional 67,738 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Catalyst Pharmaceuticals by 13.5% in the second quarter. Public Sector Pension Investment Board now owns 466,402 shares of the biopharmaceutical company's stock valued at $10,121,000 after buying an additional 55,640 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors.

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.