Allworth Financial LP Raises Stock Position in Catalyst Pharmaceuticals, Inc. $CPRX

Allworth Financial LP lifted its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 7,754.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,972 shares of the biopharmaceutical company’s stock after acquiring an additional 20,705 shares during the quarter. Allworth Financial LP’s holdings in Catalyst Pharmaceuticals were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank raised its holdings in Catalyst Pharmaceuticals by 105.0% during the second quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 734 shares during the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $133,000 after buying an additional 2,002 shares during the last quarter. US Bancorp DE boosted its position in shares of Catalyst Pharmaceuticals by 17.8% in the 1st 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. Headlands Technologies LLC acquired a new stake in Catalyst Pharmaceuticals in the 1st quarter valued at about $188,000. Finally, Quarry LP increased its holdings in Catalyst Pharmaceuticals by 60.0% during the 1st quarter. Quarry LP now owns 8,000 shares of the biopharmaceutical company’s stock valued at $194,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Oppenheimer reiterated an “outperform” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Citigroup upped their price objective on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $32.67.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, CEO Richard J. Daly sold 22,970 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the completion of the sale, the chief executive officer owned 226,794 shares of the company’s stock, valued at approximately $4,676,492.28. The trade was a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $20.30, for a total value of $609,000.00. Following the completion of the transaction, the insider owned 271,039 shares in the company, valued at approximately $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 243,970 shares of company stock valued at $4,927,241 over the last quarter. 10.40% of the stock is currently owned by corporate insiders.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $23.18 on Monday. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $26.58. The company has a 50-day moving average of $20.75 and a 200-day moving average of $21.74. The company has a market cap of $2.85 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.84 and a beta of 0.79.

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

Catalyst Pharmaceuticals announced that its Board of Directors has initiated a share buyback program on Wednesday, October 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the biopharmaceutical company to buy up to 8.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are 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.