Catalyst Pharmaceuticals (NASDAQ:CPRX) Price Target Raised to $35.00 at Citigroup

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its target price increased by Citigroup from $33.00 to $35.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock opened at $23.92 on Tuesday. The stock has a market cap of $2.92 billion, a PE ratio of 14.15, a P/E/G ratio of 0.80 and a beta of 0.75. The stock’s fifty day moving average is $23.85 and its two-hundred day moving average is $22.29. Catalyst Pharmaceuticals has a 1-year low of $19.05 and a 1-year high of $26.58.

Insider Activity

In other news, Director Molly Harper sold 26,746 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the completion of the sale, the director owned 2,360 shares in the company, valued at $54,870. This represents a 91.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 52.8% in the 3rd quarter. Federated Hermes Inc. now owns 389,289 shares of the biopharmaceutical company’s stock valued at $7,669,000 after buying an additional 134,509 shares during the period. Y Intercept Hong Kong Ltd raised its position in Catalyst Pharmaceuticals by 1,216.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 165,496 shares of the biopharmaceutical company’s stock worth $3,260,000 after acquiring an additional 152,925 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Catalyst Pharmaceuticals by 3,559.0% in the third quarter. Exchange Traded Concepts LLC now owns 62,971 shares of the biopharmaceutical company’s stock valued at $1,241,000 after acquiring an additional 61,250 shares during the period. SG Americas Securities LLC lifted its holdings in Catalyst Pharmaceuticals by 957.5% in the third quarter. SG Americas Securities LLC now owns 83,690 shares of the biopharmaceutical company’s stock valued at $1,649,000 after acquiring an additional 75,776 shares during the period. Finally, Cresset Asset Management LLC boosted its position in shares of Catalyst Pharmaceuticals by 588.1% during the 2nd quarter. Cresset Asset Management LLC now owns 87,418 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 74,713 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 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).