PNC Financial Services Group Inc. Increases Position in Catalyst Pharmaceuticals, Inc. $CPRX

PNC Financial Services Group Inc. increased its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 57.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,501 shares of the biopharmaceutical company’s stock after acquiring an additional 2,002 shares during the period. PNC Financial Services Group Inc.’s holdings in Catalyst Pharmaceuticals were worth $133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRX. GAMMA Investing LLC boosted its position in Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock valued at $68,000 after buying an additional 579 shares during the period. Summit Investment Advisors Inc. boosted its position in Catalyst Pharmaceuticals by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company’s stock valued at $244,000 after buying an additional 580 shares during the period. Hohimer Wealth Management LLC boosted its position in Catalyst Pharmaceuticals by 3.6% during the first quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 629 shares during the period. Vestcor Inc boosted its position in Catalyst Pharmaceuticals by 3.0% during the first quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company’s stock valued at $696,000 after buying an additional 840 shares during the period. Finally, Bank of Montreal Can boosted its position in Catalyst Pharmaceuticals by 6.2% during the fourth quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company’s stock valued at $311,000 after buying an additional 875 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CPRX shares. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of “Buy” and an average price target of $33.20.

Catalyst Pharmaceuticals Price Performance

CPRX stock opened at $20.25 on Wednesday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.00 and a 1 year high of $26.58. The firm has a 50-day moving average of $21.51 and a 200 day moving average of $22.65. The company has a market cap of $2.48 billion, a P/E ratio of 12.27, a PEG ratio of 0.82 and a beta of 0.70.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 2,324 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total transaction of $61,376.84. Following the completion of the transaction, the insider owned 42,681 shares of the company’s stock, valued at approximately $1,127,205.21. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.40% of the company’s stock.

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.