Illinois Municipal Retirement Fund Buys 929 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Illinois Municipal Retirement Fund boosted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 1.6% during the first quarter, Holdings Channel.com reports. The firm owned 60,638 shares of the biopharmaceutical company’s stock after buying an additional 929 shares during the period. Illinois Municipal Retirement Fund’s holdings in Catalyst Pharmaceuticals were worth $1,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth approximately $37,494,000. Bank of America Corp DE grew its holdings in Catalyst Pharmaceuticals by 139.5% in the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock worth $32,741,000 after acquiring an additional 913,843 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Catalyst Pharmaceuticals by 131.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock valued at $14,570,000 after acquiring an additional 396,506 shares during the period. Vanguard Group Inc. increased its position in shares of Catalyst Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock valued at $175,957,000 after acquiring an additional 390,116 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at about $6,887,000. Institutional investors own 79.22% of the company’s stock.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total value of $61,376.84. Following the sale, the insider owned 42,681 shares of the company’s stock, valued at $1,127,205.21. The trade was a 5.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gary Ingenito sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total value of $4,736,000.00. Following the transaction, the insider owned 68,873 shares of the company’s stock, valued at $1,630,912.64. This represents a 74.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 247,924 shares of company stock valued at $5,879,369 in the last 90 days. 10.40% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $21.70 on Tuesday. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.97 and a 52-week high of $26.58. The stock’s 50-day simple moving average is $23.86 and its two-hundred day simple moving average is $22.91. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.89 and a beta of 0.72.

Analysts Set New Price Targets

Several research firms recently issued reports on CPRX. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. Robert W. Baird increased their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $32.83.

Catalyst Pharmaceuticals 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.