Short Interest in Catalyst Pharmaceuticals Inc (CPRX) Increases By 41.4%

Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,520,504 shares, a growth of 41.4% from the October 31st total of 1,782,314 shares. Based on an average trading volume of 1,912,888 shares, the short-interest ratio is presently 1.3 days. Currently, 2.7% of the company’s stock are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of CPRX. BlackRock Inc. raised its holdings in shares of Catalyst Pharmaceuticals by 29.0% in the second quarter. BlackRock Inc. now owns 6,059,627 shares of the biopharmaceutical company’s stock worth $18,905,000 after buying an additional 1,361,096 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Catalyst Pharmaceuticals by 120.2% in the third quarter. Panagora Asset Management Inc. now owns 611,450 shares of the biopharmaceutical company’s stock worth $2,311,000 after buying an additional 333,821 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Catalyst Pharmaceuticals by 295.7% in the second quarter. GSA Capital Partners LLP now owns 380,605 shares of the biopharmaceutical company’s stock worth $1,187,000 after buying an additional 284,409 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Catalyst Pharmaceuticals in the third quarter worth $990,000. Finally, Millennium Management LLC increased its stake in shares of Catalyst Pharmaceuticals by 16.5% in the second quarter. Millennium Management LLC now owns 1,610,176 shares of the biopharmaceutical company’s stock worth $5,024,000 after acquiring an additional 227,918 shares during the period. 52.07% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently commented on CPRX. Oppenheimer set a $6.00 target price on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald set a $8.00 target price on shares of Catalyst Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, November 28th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, November 9th. BidaskClub raised shares of Catalyst Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Zacks Investment Research cut shares of Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Catalyst Pharmaceuticals has a consensus rating of “Hold” and an average price target of $5.65.

NASDAQ CPRX opened at $2.54 on Monday. The firm has a market capitalization of $260.44 million, a price-to-earnings ratio of -12.07 and a beta of 2.05. Catalyst Pharmaceuticals has a 12-month low of $2.18 and a 12-month high of $4.51.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). As a group, sell-side analysts expect that Catalyst Pharmaceuticals will post -0.3 EPS for the current year.

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About Catalyst Pharmaceuticals

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.

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