Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Cross Above 200-Day Moving Average – Here’s Why

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.51 and traded as high as $23.10. Catalyst Pharmaceuticals shares last traded at $22.80, with a volume of 1,403,407 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Monday, December 29th. Finally, Citigroup raised their price objective on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.67.

Catalyst Pharmaceuticals Stock Performance

The company has a market capitalization of $2.80 billion, a PE ratio of 13.26, a P/E/G ratio of 0.82 and a beta of 0.72. The business has a fifty day moving average price of $22.94 and a 200 day moving average price of $21.51.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter. Catalyst Pharmaceuticals had a net margin of 37.63% and a return on equity of 39.24%. The firm had revenue of $53.11 million during the quarter. Research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current fiscal year.

Catalyst Pharmaceuticals announced that its board has initiated a stock repurchase program on Wednesday, October 1st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Carmen Jeffrey Del sold 10,983 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total transaction of $256,233.39. Following the completion of the sale, the insider directly owned 3,962 shares of the company’s stock, valued at approximately $92,433.46. This represents a 73.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Molly Harper sold 26,746 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $23.25, for a total value of $621,844.50. Following the completion of the transaction, the director directly owned 2,360 shares in the company, valued at $54,870. This trade represents a 91.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its stake in shares of Catalyst Pharmaceuticals by 14.0% during the third quarter. Jones Financial Companies Lllp now owns 4,061 shares of the biopharmaceutical company’s stock valued at $79,000 after purchasing an additional 498 shares during the period. Mission Wealth Management LP grew its holdings in Catalyst Pharmaceuticals by 5.0% during the 2nd quarter. Mission Wealth Management LP now owns 10,620 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 510 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Catalyst Pharmaceuticals by 0.4% during the 2nd quarter. New York State Teachers Retirement System now owns 149,887 shares of the biopharmaceutical company’s stock valued at $3,253,000 after purchasing an additional 577 shares in the last quarter. Amalgamated Bank increased its stake in Catalyst Pharmaceuticals by 2.0% during the 2nd quarter. Amalgamated Bank now owns 32,619 shares of the biopharmaceutical company’s stock worth $708,000 after buying an additional 654 shares during the period. Finally, Huntington National Bank lifted its holdings in Catalyst Pharmaceuticals by 105.0% in 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. Hedge funds and other institutional investors own 79.22% of the company’s stock.

About Catalyst Pharmaceuticals

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).