Catalyst Pharmaceuticals (CPRX) Trading 5% Higher
Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) traded up 5% during trading on Monday . The stock traded as high as $4.23 and last traded at $4.20. 1,358,506 shares were traded during trading, an increase of 37% from the average session volume of 988,997 shares. The stock had previously closed at $4.00.
Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Catalyst Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. SunTrust Banks reiterated a “buy” rating and set a $6.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Wednesday, November 29th. Piper Jaffray Companies set a $8.00 price objective on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, December 1st. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $6.25.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CPRX. Nationwide Fund Advisors purchased a new position in Catalyst Pharmaceuticals in the second quarter valued at $111,000. New York State Common Retirement Fund purchased a new position in Catalyst Pharmaceuticals in the second quarter valued at $114,000. SG Americas Securities LLC purchased a new position in Catalyst Pharmaceuticals in the third quarter valued at $144,000. State of Wisconsin Investment Board purchased a new position in Catalyst Pharmaceuticals in the second quarter valued at $149,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Catalyst Pharmaceuticals by 1,861.3% in the second quarter. The Manufacturers Life Insurance Company now owns 63,114 shares of the biopharmaceutical company’s stock valued at $175,000 after buying an additional 59,896 shares in the last quarter. 34.83% of the stock is owned by institutional investors.
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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