Catalyst Pharmaceuticals, Inc. (CPRX) Trading Down 6.9%
Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was down 6.9% during mid-day trading on Tuesday . The stock traded as low as $2.41 and last traded at $2.44. Approximately 1,797,115 shares traded hands during mid-day trading, an increase of 91% from the average daily volume of 941,566 shares. The stock had previously closed at $2.62.
Several equities research analysts have issued reports on CPRX shares. Zacks Investment Research upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research note on Monday, May 22nd. Piper Jaffray Companies set a $6.00 price target on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 7th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $5.00 price target on shares of Catalyst Pharmaceuticals in a research note on Tuesday. Finally, Roth Capital set a $5.00 price objective on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $4.90.
The stock’s market cap is $213.08 million. The firm has a 50-day moving average of $2.83 and a 200-day moving average of $2.19.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Equities research analysts predict that Catalyst Pharmaceuticals, Inc. will post ($0.23) earnings per share for the current fiscal year.
In other news, insider Patrick J. Mcenany acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was bought at an average cost of $2.58 per share, for a total transaction of $51,600.00. Following the completion of the transaction, the insider now owns 4,471,026 shares of the company’s stock, valued at $11,535,247.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.79% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CPRX. Nationwide Fund Advisors bought a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $111,000. New York State Common Retirement Fund bought a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $114,000. Oxford Asset Management boosted its position in shares of Catalyst Pharmaceuticals by 138.1% in the first quarter. Oxford Asset Management now owns 58,940 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 34,181 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Catalyst Pharmaceuticals by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 69,176 shares of the biopharmaceutical company’s stock valued at $135,000 after acquiring an additional 2,404 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $149,000. Institutional investors own 40.20% of the company’s stock.
Catalyst Pharmaceuticals Company Profile
Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.
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