Catalyst Pharmaceuticals (NASDAQ:CPRX) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other equities analysts have also issued reports on CPRX. Zacks Research lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.20.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX opened at $20.73 on Friday. Catalyst Pharmaceuticals has a 52-week low of $19.05 and a 52-week high of $26.58. The business’s 50 day moving average price is $20.33 and its two-hundred day moving average price is $22.17. The firm has a market cap of $2.54 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79.

Catalyst Pharmaceuticals declared that its board has authorized a stock repurchase program on Wednesday, October 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the biopharmaceutical company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 115,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $2,332,200.00. Following the completion of the transaction, the insider owned 949,663 shares in the company, valued at approximately $19,259,165.64. This represents a 10.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $20.30, for a total value of $609,000.00. Following the transaction, the insider owned 271,039 shares of the company’s stock, valued at $5,502,091.70. The trade was a 9.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,970 shares of company stock worth $4,927,241 over the last 90 days. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CPRX. Huntington National Bank lifted its holdings in Catalyst Pharmaceuticals by 105.0% during the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 734 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Catalyst Pharmaceuticals during the 1st quarter worth about $64,000. GAMMA Investing LLC lifted its holdings in Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 579 shares in the last quarter. Dakota Community Bank & Trust NA purchased a new stake in Catalyst Pharmaceuticals during the 2nd quarter worth about $81,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Catalyst Pharmaceuticals by 57.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 2,002 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.