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

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

CPRX has been the topic of a number of other research reports. ValuEngine cut shares of Catalyst Pharmaceuticals from a strong-buy rating to a buy rating in a report on Wednesday, May 8th. Cantor Fitzgerald restated a buy rating and set a $10.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Catalyst Pharmaceuticals from a hold rating to a buy rating and set a $5.75 price objective on the stock in a research report on Wednesday. Finally, HC Wainwright set a $9.00 price objective on shares of Catalyst Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, May 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $7.65.

Shares of NASDAQ:CPRX traded down $0.02 during trading on Friday, reaching $5.06. 1,026,108 shares of the stock traded hands, compared to its average volume of 1,094,889. The firm’s 50-day moving average price is $4.12. Catalyst Pharmaceuticals has a 52-week low of $1.85 and a 52-week high of $6.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.07 and a current ratio of 6.08. The company has a market capitalization of $522.50 million, a PE ratio of -15.33 and a beta of 2.59.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.12. The firm had revenue of $12.45 million for the quarter, compared to analysts’ expectations of $2.40 million. During the same quarter in the previous year, the company earned ($0.06) EPS. Analysts predict that Catalyst Pharmaceuticals will post 0.11 earnings per share for the current year.

In related news, CEO Patrick J. Mcenany acquired 25,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average price of $3.23 per share, for a total transaction of $80,750.00. Following the completion of the transaction, the chief executive officer now directly owns 4,762,693 shares in the company, valued at $15,383,498.39. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CPRX. Gables Capital Management Inc. raised its position in Catalyst Pharmaceuticals by 1.3% in the second quarter. Gables Capital Management Inc. now owns 486,064 shares of the biopharmaceutical company’s stock worth $1,869,000 after acquiring an additional 6,300 shares during the period. Virtu Financial LLC raised its position in Catalyst Pharmaceuticals by 7.7% in the first quarter. Virtu Financial LLC now owns 112,568 shares of the biopharmaceutical company’s stock worth $574,000 after acquiring an additional 8,062 shares during the period. Alps Advisors Inc. raised its position in Catalyst Pharmaceuticals by 4.5% in the first quarter. Alps Advisors Inc. now owns 248,154 shares of the biopharmaceutical company’s stock worth $1,266,000 after acquiring an additional 10,715 shares during the period. Lido Advisors LLC raised its position in Catalyst Pharmaceuticals by 11.8% in the first quarter. Lido Advisors LLC now owns 126,403 shares of the biopharmaceutical company’s stock worth $644,000 after acquiring an additional 13,380 shares during the period. Finally, Amalgamated Bank bought a new position in Catalyst Pharmaceuticals in the fourth quarter worth approximately $28,000. Institutional investors own 59.74% 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. 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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