Jupiter Asset Management Ltd. Sells 217,957 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Jupiter Asset Management Ltd. cut its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 481,987 shares of the biopharmaceutical company’s stock after selling 217,957 shares during the period. Jupiter Asset Management Ltd.’s holdings in Catalyst Pharmaceuticals were worth $10,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 1,495 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $2,826,000. Moran Wealth Management LLC purchased a new position in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $210,000. AlphaQuest LLC raised its stake in Catalyst Pharmaceuticals by 17.6% in the fourth quarter. AlphaQuest LLC now owns 43,916 shares of the biopharmaceutical company’s stock worth $917,000 after buying an additional 6,582 shares in the last quarter. Finally, Amundi lifted its holdings in Catalyst Pharmaceuticals by 188.2% during the fourth quarter. Amundi now owns 56,609 shares of the biopharmaceutical company’s stock worth $1,291,000 after buying an additional 36,968 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Robert W. Baird lifted their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.50.

Catalyst Pharmaceuticals Price Performance

CPRX stock opened at $21.20 on Thursday. The business has a 50 day simple moving average of $22.27 and a 200-day simple moving average of $21.52. The firm has a market capitalization of $2.57 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $24.64.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. This represents a 39.47 % 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 62,975 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now owns 188,564 shares in the company, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.

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.