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 company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $20.30, for a total value of $609,000.00. Following the completion of the transaction, the insider directly owned 271,039 shares of the company's stock, valued at $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $19.52, for a total value of $585,600.00.
• On Wednesday, September 3rd, Brian Elsbernd sold 20,000 shares of Catalyst Pharmaceuticals stock. The shares were sold at an average price of $20.08, for a total value of $401,600.00.

Catalyst Pharmaceuticals Stock Down 1.3%

CPRX traded down $0.26 on Wednesday, reaching $19.74. The company's stock had a trading volume of 1,653,122 shares, compared to its average volume of 1,342,747. The stock has a 50 day moving average of $20.80 and a two-hundred day moving average of $22.39. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 0.81 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $26.58.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CPRX. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen raised Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $33.20.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several large investors have recently modified their holdings of CPRX. Park Square Financial Group LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth approximately $29,000. Huntington National Bank raised its stake in shares of Catalyst Pharmaceuticals by 105.0% during the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 734 shares in the last quarter. Sound Income Strategies LLC purchased a new position in shares of Catalyst Pharmaceuticals during the 1st quarter worth approximately $64,000. GAMMA Investing LLC raised its stake in shares of Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after buying an additional 579 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Catalyst Pharmaceuticals by 57.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock worth $133,000 after buying an additional 2,002 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company's stock.

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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