Catalyst Pharmaceuticals (NASDAQ:CPRX) Trading 5.4% Higher After Insider Buying Activity

Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) rose 5.4% during mid-day trading on Thursday after an insider bought additional shares in the company. The company traded as high as $3.18 and last traded at $3.13. Approximately 2,757,005 shares were traded during trading, an increase of 37% from the average daily volume of 2,007,908 shares. The stock had previously closed at $2.97.

Specifically, CEO Patrick J. Mcenany bought 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average cost of $2.97 per share, with a total value of $44,550.00. Following the transaction, the chief executive officer now directly owns 4,787,693 shares in the company, valued at $14,219,448.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.70% of the stock is currently owned by insiders.

Several analysts recently commented on CPRX shares. BidaskClub upgraded shares of Catalyst Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 15th. Oppenheimer reiterated a “buy” rating and set a $8.00 target price on shares of Catalyst Pharmaceuticals in a research note on Tuesday, August 4th. Piper Sandler lowered their price target on Catalyst Pharmaceuticals from $7.00 to $6.00 in a report on Tuesday, August 11th. Roth Capital reaffirmed a “buy” rating on shares of Catalyst Pharmaceuticals in a research note on Tuesday, August 11th. Finally, ValuEngine upgraded Catalyst Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $8.67.

The firm has a market capitalization of $307.29 million, a price-to-earnings ratio of 7.62 and a beta of 1.54. The business’s 50 day moving average price is $3.30 and its 200-day moving average price is $4.11.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Monday, August 10th. The biopharmaceutical company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.01. The company had revenue of $29.61 million for the quarter, compared to analyst estimates of $28.97 million. Catalyst Pharmaceuticals had a return on equity of 44.37% and a net margin of 34.87%. Analysts predict that Catalyst Pharmaceuticals Inc will post 0.4 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Swiss National Bank boosted its position in shares of Catalyst Pharmaceuticals by 1.5% during the 1st quarter. Swiss National Bank now owns 179,900 shares of the biopharmaceutical company’s stock worth $693,000 after purchasing an additional 2,600 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Catalyst Pharmaceuticals by 2.3% in the second quarter. Bank of America Corp DE now owns 127,573 shares of the biopharmaceutical company’s stock valued at $590,000 after purchasing an additional 2,888 shares during the period. California Public Employees Retirement System boosted its holdings in Catalyst Pharmaceuticals by 1.6% during the second quarter. California Public Employees Retirement System now owns 228,872 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 3,643 shares in the last quarter. Tanaka Capital Management Inc. boosted its holdings in Catalyst Pharmaceuticals by 2.1% during the second quarter. Tanaka Capital Management Inc. now owns 283,494 shares of the biopharmaceutical company’s stock worth $1,310,000 after buying an additional 5,720 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Catalyst Pharmaceuticals by 111.8% during the first quarter. Meeder Asset Management Inc. now owns 13,747 shares of the biopharmaceutical company’s stock worth $52,000 after buying an additional 7,255 shares during the period. Hedge funds and other institutional investors own 62.56% of the company’s stock.

Catalyst Pharmaceuticals Company Profile (NASDAQ:CPRX)

Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.

Further Reading: Sell-Side Analysts

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