Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Insider Sells $1,447,165.50 in Stock

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) insider Brian Elsbernd sold 62,975 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the sale, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX traded down $0.21 during midday trading on Wednesday, reaching $21.89. 993,208 shares of the company traded hands, compared to its average volume of 1,271,383. The stock has a 50-day moving average price of $22.27 and a 200 day moving average price of $21.49. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 3.31 and a beta of 0.80. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $24.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. grew its position in Catalyst Pharmaceuticals by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company’s stock worth $244,000 after buying an additional 580 shares during the last quarter. Bank of Montreal Can increased its stake in Catalyst Pharmaceuticals by 6.2% in the 4th quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 875 shares in the last quarter. Rhumbline Advisers raised its holdings in Catalyst Pharmaceuticals by 0.3% during the 4th quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock worth $6,518,000 after buying an additional 952 shares during the period. Handelsbanken Fonder AB lifted its stake in Catalyst Pharmaceuticals by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock valued at $740,000 after buying an additional 1,000 shares in the last quarter. Finally, PDT Partners LLC lifted its stake in Catalyst Pharmaceuticals by 5.2% during the fourth quarter. PDT Partners LLC now owns 20,664 shares of the biopharmaceutical company’s stock valued at $431,000 after buying an additional 1,030 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CPRX shares. Robert W. Baird boosted their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Truist Financial boosted their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.50.

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.