Envestnet Portfolio Solutions Inc. Buys 14,686 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Envestnet Portfolio Solutions Inc. increased its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 169.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,376 shares of the biopharmaceutical company’s stock after buying an additional 14,686 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Catalyst Pharmaceuticals were worth $507,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CPRX. GAMMA Investing LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 579 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 65.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,334 shares of the biopharmaceutical company’s stock worth $857,000 after buying an additional 13,915 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the 1st quarter worth about $484,000. Retirement Guys Formula LLC bought a new stake in shares of Catalyst Pharmaceuticals during the 1st quarter worth about $231,000. Finally, Moran Wealth Management LLC raised its stake in Catalyst Pharmaceuticals by 209.8% in the 1st quarter. Moran Wealth Management LLC now owns 31,210 shares of the biopharmaceutical company’s stock worth $757,000 after purchasing an additional 21,135 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Insider Activity

In other news, insider Brian Elsbernd sold 30,000 shares of the company’s 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 sale, the insider 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 SEC, which is accessible through this hyperlink. Also, CEO Richard J. Daly sold 22,970 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the sale, the chief executive officer directly owned 226,794 shares of the company’s stock, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,970 shares of company stock worth $4,927,241. Insiders own 10.40% of the company’s stock.

Catalyst Pharmaceuticals Stock Up 2.0%

Shares of Catalyst Pharmaceuticals stock opened at $21.43 on Wednesday. The company has a 50-day simple moving average of $20.29 and a two-hundred day simple moving average of $21.89. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.05 and a twelve month high of $26.58. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79.

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

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

Analyst Ratings Changes

CPRX has been the subject of several analyst reports. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $33.20.

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.