Short Interest in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Rises By 213.4%

Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 6,910,250 shares, a growth of 213.4% from the June 15th total of 2,204,864 shares. Currently, 9.8% of the company’s shares are sold short. Based on an average daily volume of 1,801,699 shares, the days-to-cover ratio is currently 3.8 days.

Separately, Zacks Investment Research upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Monday, May 22nd.

Catalyst Pharmaceuticals (CPRX) opened at 3.05 on Friday. Catalyst Pharmaceuticals has a 52-week low of $0.70 and a 52-week high of $3.20. The company has a 50 day moving average price of $2.77 and a 200-day moving average price of $1.87. The firm’s market cap is $255.55 million.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Equities research analysts anticipate that Catalyst Pharmaceuticals will post ($0.26) EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Catalyst Pharmaceuticals by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,007,935 shares of the biopharmaceutical company’s stock worth $5,865,000 after buying an additional 15,600 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new stake in Catalyst Pharmaceuticals during the first quarter worth approximately $1,170,000. Geode Capital Management LLC increased its stake in Catalyst Pharmaceuticals by 0.3% in the first quarter. Geode Capital Management LLC now owns 462,677 shares of the biopharmaceutical company’s stock worth $902,000 after buying an additional 1,446 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Catalyst Pharmaceuticals during the first quarter worth approximately $746,000. Finally, Knott David M acquired a new position in Catalyst Pharmaceuticals during the first quarter worth about $554,000. Institutional investors and hedge funds own 29.82% of the company’s stock.

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Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, formerly Catalyst Pharmaceutical Partners, Inc, is a development-stage biopharmaceutical company. The Company is focused on developing and commercializing therapies for people with rare debilitating diseases. The Company has three drugs in development: Firdapse, CPP-109 and CPP-115.