Catalyst Pharmaceuticals (NASDAQ:CPRX) Raised to “Strong-Buy” at BidaskClub

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BidaskClub upgraded shares of Catalyst Pharmaceuticals (NASDAQ:CPRX) from a buy rating to a strong-buy rating in a report issued on Saturday, BidAskClub reports.

Several other brokerages have also recently weighed in on CPRX. HC Wainwright set a $9.00 price objective on Catalyst Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, May 14th. Zacks Investment Research raised Catalyst Pharmaceuticals from a hold rating to a buy rating and set a $5.75 price objective for the company in a report on Wednesday, July 31st. Cantor Fitzgerald reissued a buy rating and set a $10.00 price objective on shares of Catalyst Pharmaceuticals in a report on Tuesday, May 7th. Finally, ValuEngine cut Catalyst Pharmaceuticals from a strong-buy rating to a buy rating in a report on Wednesday, May 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $7.65.

Shares of NASDAQ:CPRX opened at $4.99 on Friday. Catalyst Pharmaceuticals has a 1-year low of $1.85 and a 1-year high of $6.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.08 and a quick ratio of 6.07. The stock’s 50-day moving average price is $4.19.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Monday, May 13th. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.12. The firm had revenue of $12.45 million for the quarter, compared to the consensus estimate of $2.40 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. As a group, sell-side analysts expect that Catalyst Pharmaceuticals will post 0.11 EPS for the current year.

In related news, CEO Patrick J. Mcenany bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $3.23 per share, for a total transaction of $80,750.00. Following the transaction, the chief executive officer now owns 4,762,693 shares of the company’s stock, valued at $15,383,498.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 10.70% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its stake in shares of Catalyst Pharmaceuticals by 678.1% in the second quarter. Meeder Asset Management Inc. now owns 13,251 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 11,548 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Catalyst Pharmaceuticals in the second quarter valued at $627,000. Swiss National Bank bought a new stake in shares of Catalyst Pharmaceuticals in the second quarter valued at $661,000. Gables Capital Management Inc. raised its stake in shares of Catalyst Pharmaceuticals by 1.3% in the second quarter. Gables Capital Management Inc. now owns 486,064 shares of the biopharmaceutical company’s stock valued at $1,869,000 after buying an additional 6,300 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Catalyst Pharmaceuticals by 122.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 94,960 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 52,260 shares during the period. Institutional investors own 59.72% of the company’s stock.

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. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.

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