Arrowstreet Capital Limited Partnership Purchases 188,594 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Arrowstreet Capital Limited Partnership raised its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,223,623 shares of the biopharmaceutical company’s stock after acquiring an additional 188,594 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.00% of Catalyst Pharmaceuticals worth $26,553,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its holdings in shares of Catalyst Pharmaceuticals by 105.0% in the second quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 734 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 valued at $133,000 after buying an additional 2,002 shares during the period. US Bancorp DE increased its holdings in Catalyst Pharmaceuticals by 17.8% during the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 1,105 shares in the last quarter. Headlands Technologies LLC acquired a new position in Catalyst Pharmaceuticals during the 1st quarter worth approximately $188,000. Finally, Quarry LP increased its position in shares of Catalyst Pharmaceuticals by 60.0% in the first 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 during the last quarter. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $23.53 on Friday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58. The business’s 50-day moving average is $21.71 and its 200 day moving average is $21.67. The stock has a market capitalization of $2.89 billion, a PE ratio of 13.68, a PEG ratio of 0.84 and a beta of 0.69.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The firm had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%. As a group, equities research analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals declared that its board has authorized a stock buyback plan on Wednesday, October 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Citigroup upped their price target on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.67.

Insider Buying and Selling

In other news, insider Carmen Jeffrey Del sold 10,983 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total transaction of $256,233.39. Following the completion of the transaction, the insider directly owned 3,962 shares of the company’s stock, valued at $92,433.46. The trade was a 73.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Elsbernd sold 30,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the sale, the insider directly owned 271,039 shares of the company’s stock, valued at $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 own 10.40% of the company’s stock.

About Catalyst Pharmaceuticals

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.