Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Short Interest Update

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 5,680,000 shares, a drop of 5.5% from the October 31st total of 6,010,000 shares. Based on an average trading volume of 946,800 shares, the short-interest ratio is presently 6.0 days.

Catalyst Pharmaceuticals Stock Up 1.2 %

NASDAQ:CPRX opened at $21.96 on Thursday. Catalyst Pharmaceuticals has a 52 week low of $13.00 and a 52 week high of $24.27. The company has a market capitalization of $2.62 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.44 and a beta of 0.75. The stock’s fifty day moving average is $21.36 and its two-hundred day moving average is $18.89.

Insider Buying and Selling

In related news, insider Gary Ingenito sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total transaction of $272,640.00. Following the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Molly Harper sold 17,500 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Catalyst Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Catalyst Pharmaceuticals by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 59,164 shares of the biopharmaceutical company’s stock valued at $1,221,000 after buying an additional 1,967 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at $667,000. Hohimer Wealth Management LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter valued at $329,000. Vestcor Inc raised its holdings in shares of Catalyst Pharmaceuticals by 18.4% in the 3rd quarter. Vestcor Inc now owns 60,431 shares of the biopharmaceutical company’s stock valued at $1,201,000 after buying an additional 9,379 shares during the period. Finally, Barclays PLC raised its holdings in shares of Catalyst Pharmaceuticals by 129.4% in the 3rd quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company’s stock valued at $4,939,000 after buying an additional 140,129 shares during the period. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Truist Financial lifted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Stephens initiated coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $31.14.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.