Norges Bank Acquires New Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Norges Bank acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 4th quarter, HoldingsChannel reports. The firm acquired 91,770 shares of the biopharmaceutical company’s stock, valued at approximately $1,915,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Catalyst Pharmaceuticals by 24.3% during the 3rd quarter. FMR LLC now owns 98,580 shares of the biopharmaceutical company’s stock worth $1,960,000 after purchasing an additional 19,270 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $1,185,000. 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 valued at $7,990,000 after purchasing an additional 285,564 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Catalyst Pharmaceuticals by 73.3% in the 3rd quarter. XTX Topco Ltd now owns 19,294 shares of the biopharmaceutical company’s stock valued at $384,000 after purchasing an additional 8,160 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Catalyst Pharmaceuticals by 129.4% in the 3rd quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company’s stock valued at $4,939,000 after purchasing an additional 140,129 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Analyst Ratings Changes

CPRX has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Bank of America reissued a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Robert W. Baird boosted their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.29.

Insider Buying and Selling

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

Catalyst Pharmaceuticals Stock Up 2.8 %

Shares of NASDAQ CPRX opened at $22.05 on Friday. Catalyst Pharmaceuticals, Inc. has a 12 month low of $14.47 and a 12 month high of $26.16. The company has a market cap of $2.68 billion, a P/E ratio of 18.69, a P/E/G ratio of 3.31 and a beta of 0.79. The business’s 50 day moving average is $22.63 and its two-hundred day moving average is $22.00.

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.