Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) shares were up 9.2% during mid-day trading on Monday . The stock traded as high as $3.55 and last traded at $3.44. Approximately 1,822,400 shares traded hands during mid-day trading, an increase of 177% from the average daily volume of 659,017 shares. The stock had previously closed at $3.15.
Several research analysts have recently issued reports on CPRX shares. Zacks Investment Research upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Monday, August 13th. BidaskClub upgraded Catalyst Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, August 24th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, August 9th. Piper Jaffray Companies began coverage on Catalyst Pharmaceuticals in a research report on Friday, September 7th. They set an “overweight” rating and a $5.00 price target for the company. Finally, Oppenheimer set a $6.00 price target on Catalyst Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $5.61.
The stock has a market cap of $323.19 million, a price-to-earnings ratio of -16.00 and a beta of 1.70.
Hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC purchased a new position in Catalyst Pharmaceuticals during the first quarter valued at approximately $142,000. MetLife Investment Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $157,000. New York State Common Retirement Fund increased its position in shares of Catalyst Pharmaceuticals by 47.6% in the first quarter. New York State Common Retirement Fund now owns 74,994 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 24,200 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Catalyst Pharmaceuticals in the first quarter valued at approximately $230,000. Finally, Rhumbline Advisers increased its position in shares of Catalyst Pharmaceuticals by 34.7% in the second quarter. Rhumbline Advisers now owns 90,725 shares of the biopharmaceutical company’s stock valued at $283,000 after buying an additional 23,383 shares in the last quarter. Institutional investors own 51.49% of the company’s stock.
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. Its product candidates include Firdapse, a proprietary form of amifampridine phosphate that has completed Phase III clinical trials for the treatment of patients with lambert-eaton myasthenic syndrome; is in Phase III clinical trial to treat congenital myasthenic syndromes; and is in Phase III clinical trial for the treatment of anti-MuSK antibody positive myasthenia gravis, as well as is in Phase II clinical trial for patients with spinal muscular atrophy type 3.
Featured Article: Risk Tolerance
Receive News & Ratings for Catalyst Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catalyst Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.