Arizona State Retirement System Sells 1,993 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Arizona State Retirement System cut its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,816 shares of the biopharmaceutical company’s stock after selling 1,993 shares during the quarter. Arizona State Retirement System’s holdings in Catalyst Pharmaceuticals were worth $451,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in shares of Catalyst Pharmaceuticals by 260.2% in the first quarter. Advisory Services Network LLC now owns 1,801 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 1,301 shares during the period. FMR LLC grew its stake in shares of Catalyst Pharmaceuticals by 24.2% in the second quarter. FMR LLC now owns 4,218 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 822 shares during the period. Covestor Ltd grew its position in Catalyst Pharmaceuticals by 768.0% during the first quarter. Covestor Ltd now owns 4,878 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 4,316 shares during the period. Quantbot Technologies LP bought a new stake in Catalyst Pharmaceuticals during the first quarter valued at approximately $62,000. Finally, PNC Financial Services Group Inc. grew its position in Catalyst Pharmaceuticals by 149.7% during the second quarter. PNC Financial Services Group Inc. now owns 7,887 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 4,728 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPRX. Citigroup began coverage on shares of Catalyst Pharmaceuticals in a research report on Thursday, March 14th. They set a “buy” rating and a $27.00 target price for the company. HC Wainwright restated a “buy” rating and set a $24.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, March 1st. TheStreet upgraded shares of Catalyst Pharmaceuticals from a “c+” rating to a “b” rating in a research report on Tuesday, March 12th. Cantor Fitzgerald restated an “overweight” rating and set a $34.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, March 22nd. Finally, Bank of America began coverage on shares of Catalyst Pharmaceuticals in a report on Thursday, March 7th. They set a “buy” rating and a $23.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $26.43.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX opened at $15.13 on Friday. Catalyst Pharmaceuticals, Inc. has a 1-year low of $11.09 and a 1-year high of $17.76. The company has a market capitalization of $1.79 billion, a P/E ratio of 24.80, a P/E/G ratio of 0.84 and a beta of 0.89. The firm’s 50 day simple moving average is $15.41 and its two-hundred day simple moving average is $14.55.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Wednesday, February 28th. The biopharmaceutical company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. Catalyst Pharmaceuticals had a net margin of 17.93% and a return on equity of 26.56%. The firm had revenue of $110.57 million for the quarter, compared to the consensus estimate of $105.78 million. On average, sell-side analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.81 earnings per share for the current fiscal year.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Brian Elsbernd sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $16.44, for a total value of $411,000.00. Following the transaction, the insider now owns 124,433 shares of the company’s stock, valued at $2,045,678.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.10% of the company’s stock.

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.