Key Points
- Insider sale: Carmen Jeffrey Del sold 10,983 shares on Nov. 26 at an average of $23.33 for $256,233.39, cutting her position by 73.49% to 3,962 shares (SEC Form 4 filed).
- Share buyback: The board approved a $200 million repurchase program to buy up to about 8.3% of outstanding shares, a typical sign the board views the stock as undervalued.
- Analyst and financial snapshot: Catalyst has a $2.87B market cap and a P/E of 14.16, reported $0.28 EPS last quarter, and carries a consensus "Buy" rating with a $32.67 average price target.
Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Get Free Report) insider Carmen Jeffrey Del sold 10,983 shares of the firm's stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total transaction of $256,233.39. Following the completion of the transaction, the insider owned 3,962 shares in the company, valued at $92,433.46. The trade was a 73.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Catalyst Pharmaceuticals Stock Down 0.3%
Shares of CPRX stock opened at $23.36 on Friday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58. The firm's 50 day moving average price is $21.37 and its two-hundred day moving average price is $21.72. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79.
Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) last issued its earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 EPS for the quarter. The business had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. On average, equities analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current fiscal year.
Catalyst Pharmaceuticals declared that its board has approved a stock repurchase plan on Wednesday, October 1st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CPRX. Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Sunday, November 16th. Citigroup boosted their price target on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 7th. Weiss Ratings restated a "hold (c+)" rating on shares of Catalyst Pharmaceuticals in a report on Wednesday, October 8th. Finally, Oppenheimer reiterated an "outperform" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $32.67.
View Our Latest Stock Analysis on Catalyst Pharmaceuticals
Hedge Funds Weigh In On Catalyst Pharmaceuticals
A number of institutional investors have recently made changes to their positions in CPRX. Redhawk Wealth Advisors Inc. raised its stake in shares of Catalyst Pharmaceuticals by 24.7% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 67,778 shares of the biopharmaceutical company's stock valued at $1,471,000 after purchasing an additional 13,407 shares in the last quarter. Swedbank AB bought a new stake in Catalyst Pharmaceuticals in the first quarter valued at about $14,941,000. Boston Partners raised its stake in Catalyst Pharmaceuticals by 0.6% during the second quarter. Boston Partners now owns 1,282,722 shares of the biopharmaceutical company's stock valued at $27,928,000 after buying an additional 7,397 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Catalyst Pharmaceuticals by 33.5% during the 1st quarter. Raymond James Financial Inc. now owns 440,523 shares of the biopharmaceutical company's stock worth $10,683,000 after buying an additional 110,543 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its position in shares of Catalyst Pharmaceuticals by 194.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 56,000 shares of the biopharmaceutical company's stock worth $1,215,000 after acquiring an additional 37,000 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.
Catalyst Pharmaceuticals Company Profile
(
Get Free Report)
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.
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