Catalyst Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:CPRX)

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the target of unusually large options trading activity on Friday. Stock traders bought 3,332 put options on the stock. This represents an increase of 1,090% compared to the typical daily volume of 280 put options.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $22.48 on Friday. Catalyst Pharmaceuticals has a 12 month low of $14.75 and a 12 month high of $26.58. The company has a 50-day moving average of $23.94 and a 200-day moving average of $22.90. The company has a market cap of $2.74 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.92 and a beta of 0.72.

Analysts Set New Price Targets

Several research analysts recently weighed in on CPRX shares. HC Wainwright reissued a “buy” rating and issued a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Stephens reissued an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Robert W. Baird upped their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Six analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.83.

Insider Buying and Selling

In related news, insider Gary Ingenito sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total value of $4,736,000.00. Following the sale, the insider now directly owns 68,873 shares in the company, valued at $1,630,912.64. The trade was a 74.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Preethi Sundaram sold 2,324 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total transaction of $61,376.84. Following the completion of the sale, the insider now owns 42,681 shares in the company, valued at $1,127,205.21. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 247,924 shares of company stock worth $5,879,369 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth about $27,000. Park Square Financial Group LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth about $29,000. Farther Finance Advisors LLC grew its holdings in shares of Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 1,495 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the 1st quarter worth about $64,000. Finally, GAMMA Investing LLC grew its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 579 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

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.