Cambridge Investment Research Advisors Inc. Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Cambridge Investment Research Advisors Inc. purchased a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,968 shares of the biopharmaceutical company’s stock, valued at approximately $484,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Catalyst Pharmaceuticals by 4.9% during 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. Renaissance Technologies LLC raised its position in Catalyst Pharmaceuticals by 7.1% during the fourth quarter. Renaissance Technologies LLC now owns 2,706,116 shares of the biopharmaceutical company’s stock worth $56,477,000 after acquiring an additional 180,100 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Catalyst Pharmaceuticals during the fourth quarter worth $37,494,000. Bank of America Corp DE raised 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 acquiring an additional 913,843 shares in the last quarter. Finally, Northern Trust Corp raised its position in Catalyst Pharmaceuticals by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,503,566 shares of the biopharmaceutical company’s stock worth $31,379,000 after acquiring an additional 119,766 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Six analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.83.

Insiders Place Their Bets

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

Catalyst Pharmaceuticals Price Performance

CPRX opened at $21.63 on Thursday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 0.85 and a beta of 0.66. The firm’s fifty day moving average price is $23.55 and its two-hundred day moving average price is $22.88. Catalyst Pharmaceuticals, Inc. has a 1 year low of $15.26 and a 1 year high of $26.58.

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.