Catalyst Pharmaceuticals (NASDAQ:CPRX) Releases Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Catalyst Pharmaceuticals (NASDAQ:CPRX) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.26, FiscalAI reports. Catalyst Pharmaceuticals had a net margin of 37.63% and a return on equity of 39.24%. The company had revenue of $152.61 million during the quarter, compared to the consensus estimate of $142.75 million.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock traded up $0.67 on Wednesday, hitting $24.86. The company had a trading volume of 989,556 shares, compared to its average volume of 1,241,296. Catalyst Pharmaceuticals has a 52 week low of $19.05 and a 52 week high of $26.58. The company has a market cap of $3.06 billion, a PE ratio of 14.45, a PEG ratio of 0.81 and a beta of 0.74. The business has a 50-day simple moving average of $23.83 and a 200-day simple moving average of $22.14.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $23.25, for a total value of $621,844.50. Following the completion of the sale, the director directly owned 2,360 shares in the company, valued at $54,870. This represents a 91.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Catalyst Pharmaceuticals by 17.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,138 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 469 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Catalyst Pharmaceuticals by 55.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,764 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 630 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of Catalyst Pharmaceuticals by 8.9% in the second quarter. E Fund Management Co. Ltd. now owns 10,656 shares of the biopharmaceutical company’s stock worth $231,000 after acquiring an additional 871 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Catalyst Pharmaceuticals by 6.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,080 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 927 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Catalyst Pharmaceuticals by 1.0% in the 2nd quarter. California State Teachers Retirement System now owns 99,257 shares of the biopharmaceutical company’s stock valued at $2,154,000 after buying an additional 992 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPRX has been the subject of a number of analyst reports. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Oppenheimer reiterated an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Citigroup increased their price objective on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $33.20.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).