Algert Global LLC Boosts Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Algert Global LLC lifted its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 185.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,920 shares of the biopharmaceutical company’s stock after buying an additional 31,115 shares during the quarter. Algert Global LLC’s holdings in Catalyst Pharmaceuticals were worth $1,000,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. abrdn plc purchased a new stake in Catalyst Pharmaceuticals in the 4th quarter valued at $10,115,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Catalyst Pharmaceuticals by 131.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock worth $14,570,000 after buying an additional 396,506 shares during the period. Vanguard Group Inc. grew its holdings in shares of Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock worth $175,957,000 after buying an additional 390,116 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Catalyst Pharmaceuticals in the 4th quarter valued at about $6,887,000. Finally, JPMorgan Chase & Co. raised its stake in Catalyst Pharmaceuticals by 80.3% during the 4th quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company’s stock valued at $15,364,000 after acquiring an additional 327,936 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $23.37 on Friday. The business has a 50 day moving average price of $22.99 and a 200 day moving average price of $22.40. The company has a market capitalization of $2.85 billion, a P/E ratio of 19.81, a PEG ratio of 3.31 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.75 and a 1-year high of $26.16.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Brian Elsbernd sold 62,975 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. The trade was a 39.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CPRX shares. HC Wainwright restated a “buy” rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Robert W. Baird raised their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $32.29.

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.