Catalyst Pharmaceuticals (NASDAQ:CPRX) Shares Down 5.2% on Insider Selling

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)’s stock price was down 5.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $23.58 and last traded at $24.09. Approximately 878,006 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 1,263,655 shares. The stock had previously closed at $25.41.

Specifically, insider Preethi Sundaram sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the transaction, the insider now directly owns 41,081 shares in the company, valued at $1,085,360.02. This trade represents a 3.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Preethi Sundaram sold 2,324 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total transaction of $61,376.84. Following the completion of the transaction, the insider now owns 42,681 shares of the company’s stock, valued at approximately $1,127,205.21. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

CPRX has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Robert W. Baird raised their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.83.

Catalyst Pharmaceuticals Stock Down 3.1%

The business’s 50-day moving average price is $23.85 and its 200-day moving average price is $22.86. The firm has a market capitalization of $2.87 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 3.31 and a beta of 0.72.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cim Investment Management Inc. bought a new position in Catalyst Pharmaceuticals during the first quarter valued at approximately $208,000. Strs Ohio bought a new position in Catalyst Pharmaceuticals during the first quarter valued at approximately $994,000. Intech Investment Management LLC raised its position in Catalyst Pharmaceuticals by 6.5% during the first quarter. Intech Investment Management LLC now owns 70,087 shares of the biopharmaceutical company’s stock valued at $1,700,000 after acquiring an additional 4,261 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Catalyst Pharmaceuticals by 99.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,297 shares of the biopharmaceutical company’s stock valued at $12,763,000 after acquiring an additional 262,392 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in Catalyst Pharmaceuticals during the first quarter valued at approximately $1,246,000. Institutional investors own 79.22% of the company’s stock.

About Catalyst Pharmaceuticals

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.