Catalyst Pharmaceuticals Inc (CPRX) Sees Significant Decline in Short Interest
Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) was the recipient of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 1,302,795 shares, a drop of 39.6% from the December 15th total of 2,157,383 shares. Based on an average daily volume of 730,078 shares, the short-interest ratio is currently 1.8 days. Approximately 1.5% of the shares of the stock are sold short.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Nationwide Fund Advisors purchased a new position in Catalyst Pharmaceuticals during the second quarter valued at $111,000. New York State Common Retirement Fund purchased a new position in Catalyst Pharmaceuticals during the second quarter valued at $114,000. SG Americas Securities LLC purchased a new position in Catalyst Pharmaceuticals during the third quarter valued at $144,000. State of Wisconsin Investment Board purchased a new position in Catalyst Pharmaceuticals during the second quarter valued at $149,000. Finally, The Manufacturers Life Insurance Company grew its stake in Catalyst Pharmaceuticals by 1,861.3% during the second quarter. The Manufacturers Life Insurance Company now owns 63,114 shares of the biopharmaceutical company’s stock valued at $175,000 after acquiring an additional 59,896 shares in the last quarter. 34.75% of the stock is owned by institutional investors.
Several analysts have recently commented on the stock. Piper Jaffray Companies set a $8.00 price objective on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, December 1st. SunTrust Banks reaffirmed a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a research note on Wednesday, November 29th. Roth Capital set a $5.00 target price on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $6.25.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. analysts predict that Catalyst Pharmaceuticals will post -0.22 EPS for the current fiscal year.
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About Catalyst Pharmaceuticals
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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