Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $32.00.

A number of research analysts have commented on CPRX shares. HC Wainwright downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $31.50 in a research note on Thursday, May 28th. Oppenheimer lowered shares of Catalyst Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup downgraded Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $31.50 in a research note on Friday, May 8th. Finally, Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Friday, March 27th.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in CPRX. State Street Corp boosted its holdings in Catalyst Pharmaceuticals by 7.8% in the fourth quarter. State Street Corp now owns 6,907,622 shares of the biopharmaceutical company’s stock worth $161,224,000 after purchasing an additional 502,235 shares during the period. Deerfield Management Company L.P. increased its stake in Catalyst Pharmaceuticals by 72.8% during the third quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock valued at $98,003,000 after purchasing an additional 2,095,291 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Catalyst Pharmaceuticals by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,429,615 shares of the biopharmaceutical company’s stock worth $84,908,000 after purchasing an additional 433,318 shares during the period. Fundsmith LLP lifted its position in shares of Catalyst Pharmaceuticals by 24.2% in the 3rd quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock worth $66,267,000 after buying an additional 654,721 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Catalyst Pharmaceuticals by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock worth $76,035,000 after buying an additional 333,100 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Trading Up 0.2%

CPRX stock opened at $31.34 on Wednesday. The firm has a 50 day simple moving average of $28.74 and a 200-day simple moving average of $25.47. The company has a market capitalization of $3.84 billion, a P/E ratio of 18.01, a PEG ratio of 0.95 and a beta of 0.74. Catalyst Pharmaceuticals has a twelve month low of $19.05 and a twelve month high of $32.56.

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).