Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,174 shares of the biopharmaceutical company’s stock after selling 1,702 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Catalyst Pharmaceuticals were worth $961,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in Catalyst Pharmaceuticals by 9.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 261,432 shares of the biopharmaceutical company’s stock valued at $4,395,000 after purchasing an additional 23,171 shares in the last quarter. Raymond James & Associates raised its stake in shares of Catalyst Pharmaceuticals by 4.2% during the 4th quarter. Raymond James & Associates now owns 50,279 shares of the biopharmaceutical company’s stock worth $845,000 after buying an additional 2,045 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Catalyst Pharmaceuticals by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 7,046,487 shares of the biopharmaceutical company’s stock worth $82,373,000 after buying an additional 174,739 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of Catalyst Pharmaceuticals by 50.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 300,000 shares of the biopharmaceutical company’s stock worth $3,507,000 after buying an additional 100,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Catalyst Pharmaceuticals by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 899,478 shares of the biopharmaceutical company’s stock valued at $10,515,000 after acquiring an additional 153,697 shares during the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Price Performance

CPRX opened at $14.73 on Wednesday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 0.83 and a beta of 0.89. Catalyst Pharmaceuticals, Inc. has a 12 month low of $11.09 and a 12 month high of $17.76. The business has a 50-day moving average of $15.44 and a two-hundred day moving average of $14.59.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $110.57 million for the quarter, compared to analyst estimates of $105.78 million. Equities research analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CPRX. 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. StockNews.com upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $34.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, March 22nd. Bank of America started coverage on Catalyst Pharmaceuticals in a report on Thursday, March 7th. They issued a “buy” rating and a $23.00 price target for the company. Finally, TheStreet upgraded Catalyst Pharmaceuticals from a “c+” rating to a “b” rating in a research report on Tuesday, March 12th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and an average price target of $26.43.

Insiders Place Their Bets

In other news, Director David S. Tierney sold 25,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $15.68, for a total transaction of $392,000.00. Following the transaction, the director now directly owns 348,874 shares of the company’s stock, valued at $5,470,344.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is owned by company insiders.

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.