Citigroup Raises Catalyst Pharmaceuticals (NASDAQ:CPRX) Price Target to $35.00

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its price target boosted by investment analysts at Citigroup from $33.00 to $35.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective points to a potential upside of 41.76% from the stock’s current price.

A number of other research analysts have also commented on the company. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Weiss Ratings reiterated 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, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.00.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX opened at $24.69 on Tuesday. The stock has a 50-day simple moving average of $23.86 and a 200 day simple moving average of $22.30. Catalyst Pharmaceuticals has a twelve month low of $19.05 and a twelve month high of $26.58. The stock has a market capitalization of $3.02 billion, a PE ratio of 14.61, a P/E/G ratio of 0.71 and a beta of 0.75.

Insider Transactions at Catalyst Pharmaceuticals

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

Hedge Funds Weigh In On Catalyst Pharmaceuticals

A number of hedge funds have recently modified their holdings of CPRX. Parkside Financial Bank & Trust grew its position in Catalyst Pharmaceuticals by 17.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,138 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 469 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Catalyst Pharmaceuticals by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,428 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 472 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Catalyst Pharmaceuticals by 14.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 4,061 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 498 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Catalyst Pharmaceuticals by 5.0% in the 2nd quarter. Mission Wealth Management LP now owns 10,620 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 510 shares during the last quarter. Finally, Lifestyle Asset Management Inc. increased its position in shares of Catalyst Pharmaceuticals by 3.4% during the 4th quarter. Lifestyle Asset Management Inc. now owns 16,835 shares of the biopharmaceutical company’s stock worth $393,000 after purchasing an additional 553 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Company Profile

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).