Catalyst Pharmaceuticals Inc (CPRX) was Downgraded by Piper Jaffray to ” Neutral” while Lowering the Price Target of the company shares to $ 1 from a previous price target of $6 . Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 26, 2016.
Catalyst Pharmaceuticals Inc opened for trading at $1.2 and hit $1.24 on the upside on Friday, eventually ending the session at $1.21, with a gain of 0.83% or 0.01 points. The heightened volatility saw the trading volume jump to 3,33,690 shares. Company has a market cap of $100 M.
In a different news, on Mar 17, 2016, Philip H Coelho (director) purchased 10,000 shares at $1.06 per share price. According to the SEC, on Mar 16, 2016, Charles B O’keeffe (director) purchased 10,000 shares at $1.11 per share price. On Jan 12, 2016, Steve Miller (COO) purchased 7,933 shares at $1.80 per share price, according to the Form-4 filing with the securities and exchange commission.
Catalyst Pharmaceuticals Inc. formerly Catalyst Pharmaceutical Partners Inc. is a 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. Firdapse is used for the treatments of lambert-eaton myasthenic syndrome (LEMS) and congenital myasthenic syndromes (CMS). CPP-115 is used for the treatment of addiction and epilepsy. CPP-109 is used to treat addiction. The Company is conducting a Phase III trial to determine the safety and efficacy of Firdapse in the treatment of LEMS. CPP-115 has been granted Orphan Drug Designation by the food and drug administration (FDA) for the treatment of infantile spasms and Orphan Medicinal Product Designation in the European Union for West syndrome (a form of infantile spasms).