Wall Street Zen Downgrades Catalyst Pharmaceuticals (NASDAQ:CPRX) to Hold

Catalyst Pharmaceuticals (NASDAQ:CPRX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

CPRX has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Saturday, September 27th. Zacks Research lowered 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 given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.20.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock opened at $20.84 on Friday. The stock has a market capitalization of $2.55 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. Catalyst Pharmaceuticals has a 52-week low of $19.05 and a 52-week high of $26.58. The stock’s 50-day moving average price is $20.33 and its 200 day moving average price is $22.20.

Catalyst Pharmaceuticals declared that its board has authorized a share repurchase plan on Wednesday, October 1st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the transaction, the insider owned 271,039 shares of the company’s stock, valued at approximately $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David S. Tierney sold 26,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the transaction, the director directly owned 379,620 shares in the company, valued at $7,668,324. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,970 shares of company stock valued at $4,927,241. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Huntington National Bank increased its holdings in shares of Catalyst Pharmaceuticals by 105.0% in the second quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 734 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Catalyst Pharmaceuticals during the 1st quarter valued at $64,000. GAMMA Investing LLC raised its stake in Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 579 shares during the period. Dakota Community Bank & Trust NA acquired a new stake in Catalyst Pharmaceuticals during the 2nd quarter valued at $81,000. Finally, PNC Financial Services Group Inc. raised its stake in 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 valued at $133,000 after purchasing an additional 2,002 shares during the period. 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.