Invesco Ltd. Lowers Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Invesco Ltd. cut its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846,851 shares of the biopharmaceutical company’s stock after selling 92,675 shares during the period. Invesco Ltd. owned approximately 0.71% of Catalyst Pharmaceuticals worth $17,674,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. abrdn plc purchased a new stake in Catalyst Pharmaceuticals in the 4th quarter valued at approximately $10,115,000. Arrowstreet Capital Limited Partnership grew its holdings in Catalyst Pharmaceuticals by 131.4% during 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 period. Vanguard Group Inc. raised its position in Catalyst Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock worth $175,957,000 after acquiring an additional 390,116 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at $6,887,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Catalyst Pharmaceuticals by 80.3% during the 4th quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company’s stock worth $15,364,000 after purchasing an additional 327,936 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CPRX. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Bank of America reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Robert W. Baird lifted their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $32.29.

Catalyst Pharmaceuticals Stock Up 1.5 %

CPRX opened at $22.52 on Monday. The business’s fifty day simple moving average is $22.60 and its 200 day simple moving average is $22.11. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16. The firm has a market cap of $2.75 billion, a P/E ratio of 19.08, a PEG ratio of 3.31 and a beta of 0.79.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now owns 188,564 shares in the company, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares of the company’s stock, 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 owned by corporate insiders.

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.