Wealth Enhancement Advisory Services LLC Lowers Stock Position in Catalyst Pharmaceuticals, Inc. $CPRX

Wealth Enhancement Advisory Services LLC lessened its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,755 shares of the biopharmaceutical company’s stock after selling 3,579 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Catalyst Pharmaceuticals were worth $681,000 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 worth approximately $64,000. GAMMA Investing LLC increased its stake in shares of Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 579 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Catalyst Pharmaceuticals by 57.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 2,002 shares during the period. US Bancorp DE boosted its holdings in Catalyst Pharmaceuticals by 17.8% during the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 1,105 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in Catalyst Pharmaceuticals during the first quarter worth $182,000. Institutional investors own 79.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 115,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total transaction of $2,332,200.00. Following the completion of the sale, the insider owned 949,663 shares in the company, valued at approximately $19,259,165.64. The trade was a 10.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David S. Tierney sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the sale, the director owned 379,620 shares of the company’s stock, valued at $7,668,324. This represents a 6.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,970 shares of company stock worth $4,927,241 over the last 90 days. 10.40% of the stock is owned by corporate insiders.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $20.84 on Friday. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.05 and a 52 week high of $26.58. The stock has a market capitalization 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. The firm has a 50 day moving average of $20.33 and a two-hundred day moving average of $22.20.

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

Catalyst Pharmaceuticals 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.