Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Given Average Recommendation of “Strong Buy” by Brokerages

Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) have been given a consensus rating of “Strong Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

Several research analysts recently issued reports on the company. Zacks Research raised Catalyst Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Truist Financial raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Wednesday. Citigroup increased their target price on shares of Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th.

Hedge Funds Weigh In On Catalyst Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its position in shares of Catalyst Pharmaceuticals by 7.8% during the fourth quarter. State Street Corp now owns 6,907,622 shares of the biopharmaceutical company’s stock valued at $161,224,000 after acquiring an additional 502,235 shares during the last quarter. Deerfield Management Company L.P. lifted its holdings in Catalyst Pharmaceuticals by 72.8% during the third quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock worth $98,003,000 after acquiring an additional 2,095,291 shares during the period. Fundsmith LLP boosted its position in Catalyst Pharmaceuticals by 24.2% in the third quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock worth $66,267,000 after purchasing an additional 654,721 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Catalyst Pharmaceuticals by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock valued at $76,035,000 after purchasing an additional 333,100 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Catalyst Pharmaceuticals by 21.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,996,297 shares of the biopharmaceutical company’s stock valued at $69,933,000 after purchasing an additional 538,128 shares during the period. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ CPRX opened at $24.25 on Friday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.72 and a beta of 0.75. Catalyst Pharmaceuticals has a fifty-two week low of $19.05 and a fifty-two week high of $26.58. The firm’s 50-day simple moving average is $24.00 and its 200 day simple moving average is $22.65.

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).