Catalyst Pharmaceuticals Inc (NASDAQ:CPRX), a biopharmaceutical company focused on developing and commercializing innovative therapies for people with rare debilitating diseases, announced that the company has been added to the Russell 2000®, the Russell 3000® and Russell Global Indexes, following Russell’s annual reconstitution on June 26, according to a preliminary list of additions posted June 12, 2015 on the FTSE Russell website.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market and is a subset of the Russell 3000® Index. Membership in the Russell 2000®, remains in place for one year. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased that Catalyst Pharmaceuticals has been added as a member of the Russell 2000®,” commented Patrick McEnany, president and chief executive officer. “This membership validates our growth strategy and will enhance our visibility in the investment community.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.7 trillion in assets are benchmarked to the Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. (Original Source)
Shares of Catalyst Pharmaceutical Partners opened today at $4.22 and are currently trading down at $4.07. CPRX has a 1-year high of $5.10 and a 1-year low of $2.13. The stock’s 50-day moving average is $3.90 and its 200-day moving average is $3.70.
On the ratings front, MLV & Co. analyst Ram Selvaraju initiated coverage with a Buy rating on CPRX and a price target of $14, in a report issued on June 24. The current price target implies an upside of 244.0% from current levels.
According to TipRanks.com, Selvaraju has a total average return of 10.2%, a 46.5% success rate, and is ranked #478 out of 3681 analysts.
Catalyst Pharmaceuticals Inc is abiopharmaceutical company. The Company is engaged in the development and commercialization of prescription drugs targeting rare (orphan) neurological diseases and disorders.