Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) shot up 9.2% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $3.60 and last traded at $3.57. 2,783,987 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,099,663 shares. The stock had previously closed at $3.27.
Specifically, CEO Patrick J. Mcenany bought 25,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $3.23 per share, with a total value of $80,750.00. Following the transaction, the chief executive officer now owns 4,762,693 shares in the company, valued at $15,383,498.39. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.70% of the stock is currently owned by insiders.
Several equities research analysts have recently commented on CPRX shares. ValuEngine raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 25th. HC Wainwright set a $9.00 price objective on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, May 14th. BidaskClub downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. Cantor Fitzgerald reissued a “buy” rating and issued a $10.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Tuesday, May 7th. Finally, Zacks Investment Research downgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $7.35.
The company has a quick ratio of 6.07, a current ratio of 6.08 and a debt-to-equity ratio of 0.02. The stock has a market cap of $367.19 million, a P/E ratio of -10.82 and a beta of 2.71.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.12. The business had revenue of $12.45 million for the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, analysts forecast that Catalyst Pharmaceuticals Inc will post 0.11 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Catalyst Pharmaceuticals by 0.3% in the 1st quarter. BlackRock Inc. now owns 6,988,724 shares of the biopharmaceutical company’s stock valued at $35,643,000 after buying an additional 17,851 shares during the last quarter. Broadfin Capital LLC grew its position in shares of Catalyst Pharmaceuticals by 22.0% in the 4th quarter. Broadfin Capital LLC now owns 6,268,298 shares of the biopharmaceutical company’s stock valued at $12,035,000 after acquiring an additional 1,132,034 shares during the period. Vanguard Group Inc. grew its position in shares of Catalyst Pharmaceuticals by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,458,151 shares of the biopharmaceutical company’s stock valued at $16,852,000 after acquiring an additional 185,017 shares during the period. Opaleye Management Inc. bought a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at about $9,308,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 7.8% during the 1st quarter. Geode Capital Management LLC now owns 1,146,422 shares of the biopharmaceutical company’s stock worth $5,846,000 after buying an additional 82,654 shares during the period. Institutional investors and hedge funds own 59.79% of the company’s stock.
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Catalyst Pharmaceuticals Company Profile (NASDAQ:CPRX)
Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.
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