Bank of New York Mellon Corp Buys 9,822 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Bank of New York Mellon Corp grew its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 719,747 shares of the biopharmaceutical company’s stock after acquiring an additional 9,822 shares during the period. Bank of New York Mellon Corp owned 0.59% of Catalyst Pharmaceuticals worth $15,619,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in Catalyst Pharmaceuticals by 4.3% during the 2nd quarter. Bank of Montreal Can now owns 20,594 shares of the biopharmaceutical company’s stock worth $447,000 after purchasing an additional 851 shares during the last quarter. Sigma Planning Corp grew its holdings in Catalyst Pharmaceuticals by 50.4% in the 2nd quarter. Sigma Planning Corp now owns 31,987 shares of the biopharmaceutical company’s stock valued at $694,000 after buying an additional 10,712 shares in the last quarter. Mission Wealth Management LP increased its position in Catalyst Pharmaceuticals by 5.0% during the 2nd quarter. Mission Wealth Management LP now owns 10,620 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 510 shares during the period. Strs Ohio lifted its holdings in shares of Catalyst Pharmaceuticals by 4.1% during the second quarter. Strs Ohio now owns 42,700 shares of the biopharmaceutical company’s stock worth $927,000 after buying an additional 1,700 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Catalyst Pharmaceuticals by 2.0% in the second quarter. Amalgamated Bank now owns 32,619 shares of the biopharmaceutical company’s stock valued at $708,000 after acquiring an additional 654 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock opened at $22.56 on Tuesday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58. The stock’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $21.73. The company has a market cap of $2.77 billion, a PE ratio of 13.67, a P/E/G ratio of 0.84 and a beta of 0.79.

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

Catalyst Pharmaceuticals declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 1st that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

CPRX has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Citigroup increased their price target on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and an average target price of $32.67.

Insider Activity at Catalyst Pharmaceuticals

In other news, CEO Richard J. Daly sold 22,970 shares of the firm’s stock in a transaction that occurred 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 sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the completion of the transaction, the insider directly owned 271,039 shares of the company’s stock, valued at approximately $5,502,091.70. The trade was a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 243,970 shares of company stock worth $4,927,241 over the last three months. 10.40% of the stock is owned by insiders.

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.