State of Alaska Department of Revenue Buys 6,148 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

State of Alaska Department of Revenue increased its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 68,271 shares of the biopharmaceutical company’s stock after purchasing an additional 6,148 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Catalyst Pharmaceuticals worth $1,480,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in shares of Catalyst Pharmaceuticals during the 1st quarter valued at approximately $64,000. GAMMA Investing LLC increased its position in shares of Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 579 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Catalyst Pharmaceuticals by 57.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 2,002 shares during the last quarter. US Bancorp DE increased its position in shares of Catalyst Pharmaceuticals by 17.8% during the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC bought a new position in Catalyst Pharmaceuticals in the 1st quarter valued at $182,000. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock opened at $20.84 on Friday. The stock has a 50-day moving average of $20.33 and a two-hundred day moving average of $22.20. Catalyst Pharmaceuticals, Inc. has a one year low of $19.05 and a one year high of $26.58. The stock has a market cap of $2.55 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79.

Catalyst Pharmaceuticals declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 1st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have commented on CPRX. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Saturday, September 27th. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen downgraded Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $33.20.

Insider Transactions at Catalyst Pharmaceuticals

In other news, CEO Richard J. Daly sold 22,970 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total value of $473,641.40. Following the transaction, the chief executive officer directly owned 226,794 shares of the company’s stock, valued at approximately $4,676,492.28. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Tierney sold 26,000 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $20.20, for a total value of $525,200.00. Following the completion of the transaction, the director directly owned 379,620 shares in the company, valued at $7,668,324. This represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,970 shares of company stock valued at $4,927,241 over the last three months. Company 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.