Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) shares rose 7.9% during mid-day trading on Tuesday . The stock traded as high as $2.90 and last traded at $2.86. Approximately 1,728,167 shares changed hands during mid-day trading, an increase of 205% from the average daily volume of 567,163 shares. The stock had previously closed at $2.65.
CPRX has been the subject of several research reports. Zacks Investment Research lowered shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies set a $6.00 target price on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, August 7th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $5.00 target price on shares of Catalyst Pharmaceuticals in a research report on Tuesday, September 5th. Finally, Roth Capital set a $5.00 target price on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $5.50.
The stock’s 50 day moving average is $2.60 and its 200-day moving average is $2.50. The firm’s market capitalization is $241.82 million.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Equities research analysts anticipate that Catalyst Pharmaceuticals, Inc. will post ($0.23) EPS for the current year.
In other Catalyst Pharmaceuticals news, insider Patrick J. Mcenany acquired 20,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average cost of $2.58 per share, with a total value of $51,600.00. Following the purchase, the insider now directly owns 4,471,026 shares of the company’s stock, valued at approximately $11,535,247.08. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.79% of the company’s stock.
Large investors have recently modified their holdings of the business. Nationwide Fund Advisors purchased a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter worth $111,000. New York State Common Retirement Fund purchased a new position in shares of Catalyst Pharmaceuticals in the 2nd quarter worth $114,000. Bank of New York Mellon Corp grew its stake in shares of Catalyst Pharmaceuticals by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 69,176 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 2,404 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in shares of Catalyst Pharmaceuticals during the 2nd quarter worth about $149,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Catalyst Pharmaceuticals during the 1st quarter worth about $155,000. 40.10% of the stock is owned by institutional investors and hedge funds.
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Catalyst Pharmaceuticals Company Profile
Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.
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