Catalyst Pharmaceuticals (NASDAQ:CPRX) Stock Rating Upgraded by Truist Financial

Catalyst Pharmaceuticals (NASDAQ:CPRX) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on CPRX. Citigroup boosted their price objective on shares of Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Zacks Research raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy” and an average target price of $34.00.

Catalyst Pharmaceuticals Trading Up 1.9%

CPRX opened at $24.25 on Wednesday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.72 and a beta of 0.75. The stock has a fifty day simple moving average of $24.00 and a two-hundred day simple moving average of $22.65. Catalyst Pharmaceuticals has a 12-month low of $19.05 and a 12-month high of $26.58.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Large investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Catalyst Pharmaceuticals by 39.1% during the 1st quarter. Royal Bank of Canada now owns 213,469 shares of the biopharmaceutical company’s stock valued at $5,177,000 after purchasing an additional 60,040 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Catalyst Pharmaceuticals by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,052 shares of the biopharmaceutical company’s stock worth $1,749,000 after buying an additional 3,800 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock worth $76,035,000 after buying an additional 333,100 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Catalyst Pharmaceuticals by 99.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,297 shares of the biopharmaceutical company’s stock valued at $12,763,000 after buying an additional 262,392 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Catalyst Pharmaceuticals by 6.5% during the first quarter. Intech Investment Management LLC now owns 70,087 shares of the biopharmaceutical company’s stock valued at $1,700,000 after buying an additional 4,261 shares during 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).