Catalyst Pharmaceuticals (NASDAQ:CPRX) Releases Earnings Results

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

Catalyst Pharmaceuticals Stock Up 2.8%

CPRX stock traded up $0.67 during midday trading on Wednesday, hitting $24.86. The company’s stock had a trading volume of 989,556 shares, compared to its average volume of 1,154,019. The firm has a 50-day simple moving average of $23.85 and a 200-day simple moving average of $22.16. The firm has a market capitalization of $3.06 billion, a P/E ratio of 9.49, a PEG ratio of 0.81 and a beta of 0.74. Catalyst Pharmaceuticals has a 52-week low of $19.05 and a 52-week high of $26.58.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the sale, the director owned 2,360 shares in the company, valued at $54,870. This represents a 91.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Catalyst Pharmaceuticals by 7.8% in the 4th quarter. State Street Corp now owns 6,907,622 shares of the biopharmaceutical company’s stock valued at $161,224,000 after purchasing an additional 502,235 shares in the last quarter. Deerfield Management Company L.P. raised its stake in Catalyst Pharmaceuticals by 72.8% in 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 buying an additional 2,095,291 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Catalyst Pharmaceuticals by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock valued at $76,035,000 after buying an additional 333,100 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Catalyst Pharmaceuticals by 21.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,996,297 shares of the biopharmaceutical company’s stock worth $69,933,000 after buying an additional 538,128 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Catalyst Pharmaceuticals by 59.1% during the 4th quarter. Morgan Stanley now owns 2,933,399 shares of the biopharmaceutical company’s stock worth $68,466,000 after acquiring an additional 1,089,775 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Citigroup raised their target price on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Catalyst Pharmaceuticals 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).