Catalyst Pharmaceuticals Inc (NASDAQ:CPRX)’s share price fell 6.9% on Thursday . The company traded as low as $3.00 and last traded at $3.09. 1,803,167 shares changed hands during mid-day trading, an increase of 164% from the average session volume of 681,842 shares. The stock had previously closed at $3.32.
A number of brokerages recently weighed in on CPRX. Zacks Investment Research cut Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday. Cantor Fitzgerald set a $8.00 price target on Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Piper Jaffray Companies began coverage on Catalyst Pharmaceuticals in a research note on Friday, September 7th. They issued an “overweight” rating and a $5.00 price target on the stock. Finally, HC Wainwright set a $6.00 price target on Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Catalyst Pharmaceuticals presently has an average rating of “Hold” and an average target price of $5.61.
The company has a market cap of $387.83 million, a price-to-earnings ratio of -14.95 and a beta of 1.46.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Research analysts forecast that Catalyst Pharmaceuticals Inc will post -0.29 EPS for the current year.
Large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Catalyst Pharmaceuticals during the 2nd quarter valued at about $157,000. New York State Common Retirement Fund grew its stake in Catalyst Pharmaceuticals by 47.6% during the 1st quarter. New York State Common Retirement Fund now owns 74,994 shares of the biopharmaceutical company’s stock valued at $179,000 after acquiring an additional 24,200 shares in the last quarter. Lido Advisors LLC grew its stake in Catalyst Pharmaceuticals by 46.5% during the 2nd quarter. Lido Advisors LLC now owns 87,506 shares of the biopharmaceutical company’s stock valued at $273,000 after acquiring an additional 27,766 shares in the last quarter. Rhumbline Advisers grew its stake in Catalyst Pharmaceuticals by 34.7% during the 2nd quarter. Rhumbline Advisers now owns 90,725 shares of the biopharmaceutical company’s stock valued at $283,000 after acquiring an additional 23,383 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Catalyst Pharmaceuticals during the 1st quarter valued at about $230,000. 51.49% of the stock is currently owned by institutional investors.
About Catalyst Pharmaceuticals (NASDAQ:CPRX)
Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. Its product candidates include Firdapse, a proprietary form of amifampridine phosphate that has completed Phase III clinical trials for the treatment of patients with lambert-eaton myasthenic syndrome; is in Phase III clinical trial to treat congenital myasthenic syndromes; and is in Phase III clinical trial for the treatment of anti-MuSK antibody positive myasthenia gravis, as well as is in Phase II clinical trial for patients with spinal muscular atrophy type 3.
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