Vanguard Group Inc. Increases Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Vanguard Group Inc. raised its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 8,431,094 shares of the biopharmaceutical company’s stock after buying an additional 390,116 shares during the period. Vanguard Group Inc. owned 0.07% of Catalyst Pharmaceuticals worth $175,957,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CPRX. abrdn plc acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $10,115,000. Raymond James Financial Inc. purchased a new stake in Catalyst Pharmaceuticals in the 4th quarter valued at $6,887,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Catalyst Pharmaceuticals by 74.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 731,900 shares of the biopharmaceutical company’s stock worth $15,421,000 after acquiring an additional 312,000 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Catalyst Pharmaceuticals by 245.4% during the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock worth $7,990,000 after acquiring an additional 285,564 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Catalyst Pharmaceuticals by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock valued at $61,681,000 after acquiring an additional 151,495 shares during the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the sale, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. The trade was a 25.04 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Catalyst Pharmaceuticals Stock Performance

NASDAQ:CPRX opened at $23.07 on Monday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $26.16. The company has a 50 day moving average price of $22.78 and a 200 day moving average price of $21.96. The stock has a market capitalization of $2.80 billion, a P/E ratio of 19.55, a PEG ratio of 3.31 and a beta of 0.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. HC Wainwright reissued a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.29.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases in the United States. It offers Firdapse, an amifampridine phosphate tablets for the treatment of patients with lambert-eaton myasthenic syndrome (LEMS); and Ruzurgi for the treatment of pediatric LEMS patients.