Q2 2023 EPS Estimates for Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Lowered by Zacks Research

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Get Rating) – Equities researchers at Zacks Research cut their Q2 2023 earnings estimates for shares of Catalyst Pharmaceuticals in a research report issued on Wednesday, May 24th. Zacks Research analyst A. Chakroborty now expects that the biopharmaceutical company will earn $0.26 per share for the quarter, down from their prior estimate of $0.30. The consensus estimate for Catalyst Pharmaceuticals’ current full-year earnings is $1.17 per share. Zacks Research also issued estimates for Catalyst Pharmaceuticals’ Q3 2023 earnings at $0.27 EPS, Q4 2023 earnings at $0.29 EPS, FY2023 earnings at $1.08 EPS, Q1 2024 earnings at $0.31 EPS, Q2 2024 earnings at $0.31 EPS, Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.29 EPS and Q1 2025 earnings at $0.35 EPS.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Rating) last issued its earnings results on Wednesday, March 15th. The biopharmaceutical company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Catalyst Pharmaceuticals had a return on equity of 34.72% and a net margin of 38.76%. The company had revenue of $60.76 million during the quarter, compared to the consensus estimate of $60.64 million.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Piper Sandler lifted their target price on Catalyst Pharmaceuticals from $20.00 to $21.00 in a research report on Tuesday, February 7th. Finally, Cantor Fitzgerald increased their price target on Catalyst Pharmaceuticals from $22.00 to $25.00 in a report on Friday, March 17th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Catalyst Pharmaceuticals Stock Down 0.8 %

NASDAQ CPRX opened at $11.50 on Friday. The stock has a market cap of $1.22 billion, a PE ratio of 13.07 and a beta of 1.11. The business has a 50 day moving average price of $15.79 and a two-hundred day moving average price of $16.41. Catalyst Pharmaceuticals has a fifty-two week low of $6.15 and a fifty-two week high of $22.11.

Institutional Trading of Catalyst Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Catalyst Pharmaceuticals by 119.6% in the third quarter. BlackRock Inc. now owns 15,268,931 shares of the biopharmaceutical company’s stock worth $195,902,000 after buying an additional 8,317,115 shares during the period. State Street Corp increased its holdings in shares of Catalyst Pharmaceuticals by 39.0% in the 3rd quarter. State Street Corp now owns 7,555,423 shares of the biopharmaceutical company’s stock worth $96,936,000 after acquiring an additional 2,117,944 shares during the period. Millennium Management LLC lifted its position in Catalyst Pharmaceuticals by 134.1% in the 2nd quarter. Millennium Management LLC now owns 2,723,895 shares of the biopharmaceutical company’s stock valued at $19,095,000 after purchasing an additional 1,560,086 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Catalyst Pharmaceuticals by 2,913.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,423,584 shares of the biopharmaceutical company’s stock valued at $23,603,000 after purchasing an additional 1,376,339 shares during the period. Finally, Vanguard Group Inc. grew its position in Catalyst Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,139,650 shares of the biopharmaceutical company’s stock worth $78,772,000 after purchasing an additional 1,277,662 shares during the last quarter. 86.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, CEO Patrick J. Mcenany sold 26,151 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $13.23, for a total transaction of $345,977.73. Following the sale, the chief executive officer now owns 3,945,436 shares in the company, valued at $52,198,118.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Patrick J. Mcenany sold 26,151 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $13.23, for a total value of $345,977.73. Following the transaction, the chief executive officer now directly owns 3,945,436 shares in the company, valued at approximately $52,198,118.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David S. Tierney sold 30,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $16.83, for a total transaction of $504,900.00. Following the completion of the transaction, the director now directly owns 313,541 shares of the company’s stock, valued at $5,276,895.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,151 shares of company stock worth $3,974,706. Corporate insiders own 14.10% of the company’s stock.

About Catalyst Pharmaceuticals

(Get Rating)

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing novel medicines for patients living with rare diseases including Lambert-Eaton myasthenic syndrome, congenital myasthenic syndromes, MuSK antibody positive myasthenia gravis, spinal muscular atrophy type 3, and infantile spasms.