Catalyst Pharmaceuticals, Inc. $CPRX Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. grew its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 6.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 517,666 shares of the biopharmaceutical company’s stock after acquiring an additional 29,079 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Catalyst Pharmaceuticals were worth $11,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CPRX. Redhawk Wealth Advisors Inc. increased its stake in Catalyst Pharmaceuticals by 24.7% in the second quarter. Redhawk Wealth Advisors Inc. now owns 67,778 shares of the biopharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 13,407 shares during the period. Swedbank AB purchased a new position in shares of Catalyst Pharmaceuticals during the first quarter worth about $14,941,000. Raymond James Financial Inc. increased its position in Catalyst Pharmaceuticals by 33.5% in the 1st quarter. Raymond James Financial Inc. now owns 440,523 shares of the biopharmaceutical company’s stock valued at $10,683,000 after acquiring an additional 110,543 shares during the period. Wesbanco Bank Inc. increased its position in Catalyst Pharmaceuticals by 194.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 56,000 shares of the biopharmaceutical company’s stock valued at $1,215,000 after acquiring an additional 37,000 shares during the period. Finally, Clark Capital Management Group Inc. raised its stake in Catalyst Pharmaceuticals by 17.9% during the 1st quarter. Clark Capital Management Group Inc. now owns 244,995 shares of the biopharmaceutical company’s stock valued at $5,941,000 after acquiring an additional 37,262 shares during the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.30, for a total value of $609,000.00. Following the sale, the insider directly owned 271,039 shares of the company’s stock, valued at approximately $5,502,091.70. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 243,970 shares of company stock valued at $4,927,241 in the last quarter. Insiders own 10.40% of the company’s stock.

Catalyst Pharmaceuticals Stock Down 1.4%

NASDAQ:CPRX opened at $22.78 on Thursday. The firm’s fifty day simple moving average is $20.63 and its 200-day simple moving average is $21.77. The stock has a market cap of $2.80 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58.

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

Catalyst Pharmaceuticals announced that its board has initiated a share repurchase plan on Wednesday, October 1st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have weighed in on CPRX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Citigroup raised their target price on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $32.67.

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.