KLP Kapitalforvaltning AS Has $848,000 Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

KLP Kapitalforvaltning AS increased its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,100 shares of the biopharmaceutical company’s stock after acquiring an additional 2,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Catalyst Pharmaceuticals were worth $848,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CPRX. GAMMA Investing LLC increased its stake in Catalyst Pharmaceuticals by 26.2% in the 1st 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. PNC Financial Services Group Inc. increased its stake in Catalyst Pharmaceuticals by 57.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 2,002 shares during the period. US Bancorp DE increased its stake in Catalyst Pharmaceuticals by 17.8% in the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 1,105 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in Catalyst Pharmaceuticals in the 1st quarter valued at approximately $182,000. Finally, Headlands Technologies LLC acquired a new position in Catalyst Pharmaceuticals in the 1st quarter valued at approximately $188,000. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Activity

In related news, CEO Richard J. Daly sold 22,970 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were 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 in the company, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Steve Miller sold 115,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 949,663 shares in the company, valued at $19,259,165.64. The trade was a 10.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,970 shares of company stock valued at $4,927,241. 10.40% of the stock is owned by corporate insiders.

Catalyst Pharmaceuticals Stock Up 4.7%

Shares of CPRX opened at $21.26 on Thursday. The company’s fifty day moving average is $20.21 and its 200-day moving average is $21.99. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $26.58. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.81 and a beta of 0.79.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 EPS for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The company had revenue of $53.11 million for the quarter. As a group, research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current fiscal year.

Catalyst Pharmaceuticals declared that its board has initiated 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CPRX has been the topic of several research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research lowered shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday. Two equities research 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, the company presently has a consensus rating of “Buy” and a consensus price target of $33.20.

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.