Piper Jaffray Companies Raises Catalyst Pharmaceuticals (CPRX) Price Target to $7.50

Catalyst Pharmaceuticals (NASDAQ:CPRX) had its price target lifted by stock analysts at Piper Jaffray Companies from $5.00 to $7.50 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 220.51% from the stock’s previous close. Piper Jaffray Companies also issued estimates for Catalyst Pharmaceuticals’ FY2022 earnings at $1.11 EPS.

Several other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, November 9th. Cantor Fitzgerald set a $8.00 target price on shares of Catalyst Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, November 28th. BidaskClub upgraded shares of Catalyst Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Zacks Investment Research cut shares of Catalyst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.35.

Shares of NASDAQ:CPRX opened at $2.34 on Thursday. The firm has a market cap of $246.57 million, a P/E ratio of -11.14 and a beta of 2.01. Catalyst Pharmaceuticals has a 1-year low of $2.18 and a 1-year high of $4.18.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). Analysts forecast that Catalyst Pharmaceuticals will post -0.3 earnings per share for the current year.

In other news, Director Charles B. O’keeffe bought 20,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Friday, December 14th. The stock was bought at an average price of $2.50 per share, for a total transaction of $50,000.00. Following the purchase, the director now owns 543,376 shares of the company’s stock, valued at $1,358,440. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.30% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC lifted its stake in shares of Catalyst Pharmaceuticals by 38.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 69,540 shares of the biopharmaceutical company’s stock worth $263,000 after acquiring an additional 19,191 shares during the period. Teachers Advisors LLC lifted its stake in shares of Catalyst Pharmaceuticals by 12.0% in the 3rd quarter. Teachers Advisors LLC now owns 218,143 shares of the biopharmaceutical company’s stock worth $825,000 after acquiring an additional 23,321 shares during the period. Rhumbline Advisers increased its holdings in shares of Catalyst Pharmaceuticals by 34.7% in the 2nd quarter. Rhumbline Advisers now owns 90,725 shares of the biopharmaceutical company’s stock valued at $283,000 after purchasing an additional 23,383 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 12.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 208,404 shares of the biopharmaceutical company’s stock valued at $651,000 after purchasing an additional 23,500 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 152.9% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 42,900 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 25,940 shares in the last quarter. Institutional investors own 49.61% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

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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