The stock of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) is now priced at $3.13 and the shares are -0.15 points down or -4.57% lower compared to its previous closing price of $3.28. The stock had 1.916 million contracts set over the past session. CPRX shares’ daily volume is compared to its average trading volume at 2.002 million shares. However, it has a float of 96.33 million and although its performance was -6.29% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the CPRX share price recently placing at $3.12 to $3.2902. However, some brokerage firms have priced the stock below the average, including one that has called $6.
The shorts are climbing into the Catalyst Pharmaceuticals, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the CPRX shares have risen. Short interest in the stock represents just 12.8% of its float, but the volume has raised by 810953. The volume of shorted shares rised to 12.333 million from 11.522 million shares over the last two weeks. The average intraday trading volume has been 3.009 million shares, which means that days to cover moved to roughly 4.098999.
In the last trading session, Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) dropped by -$0.21 over the week and lost -$1 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $7.67. The stock recorded its established 52-week high on 09/11/19.
Since 03/13/20, the stock has traded to a low of $2.55 at 22.75%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.55. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Catalyst Pharmaceuticals, Inc.’s two-week RSI is 28.64. This suggests that the stock is overbought at the moment and that CPRX shares’ price movement remains not stable. The stochastic readings are equally revealing at 10.89% meaning the CPRX share price is currently in overbought territory.
The technical chart shows that the CPRX stock will likely settle at between $3.24 and $3.35 per share. However, if the stock dips below $3.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.01.
Currently, the stock is trading in the red of MACD, with a reading of -0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CPRX a rating of Overweight in their intiating review released on September 21. Piper Jaffray analysts see the stock as a Overweight in a flash note released to investors on September 07 resuming covering the stock. Piper Jaffray seeing the improvements upgraded the stock from Neutral to Overweight on October 05.
The average rating for the CPRX equity is 1.83 and is currently gathering a bullish momentum. Of 6 analysts tracking Catalyst Pharmaceuticals, Inc. polled by Reuters, 0 rated CPRX as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CPRX stock price is 7.54X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) will decrease by about -99.89%, which will see them reach $31.32 million. The company’s full-year revenues are, however, expected to increase by about 23.71%, up from $102 million to $127 million. CPRX’s expected adjusted earnings should drop almost -30.77% to end up at $0.09 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 33.33% to record $0.4/share.