Envestnet Portfolio Solutions Inc. Acquires New Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Envestnet Portfolio Solutions Inc. bought a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the 1st quarter, Holdings Channel.com reports. The fund bought 8,690 shares of the biopharmaceutical company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently modified their holdings of CPRX. Castlekeep Investment Advisors LLC purchased a new position in shares of Catalyst Pharmaceuticals during the 4th quarter worth approximately $37,494,000. Bank of America Corp DE increased its position in Catalyst Pharmaceuticals by 139.5% during the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock worth $32,741,000 after buying an additional 913,843 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 worth $14,570,000 after acquiring an additional 396,506 shares during the last quarter. Vanguard Group Inc. lifted 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 in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at $6,887,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $21.70 on Tuesday. The company has a market cap of $2.65 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.89 and a beta of 0.72. Catalyst Pharmaceuticals, Inc. has a 12 month low of $14.97 and a 12 month high of $26.58. The company has a 50-day moving average of $23.86 and a 200-day moving average of $22.91.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following the completion of the sale, the insider directly owned 68,873 shares of the company’s stock, valued at $1,630,912.64. The trade was a 74.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total value of $61,376.84. Following the completion of the transaction, the insider owned 42,681 shares in the company, valued at $1,127,205.21. The trade was a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPRX. Robert W. Baird lifted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and an average target price of $32.83.

About Catalyst Pharmaceuticals

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.