Y Intercept Hong Kong Ltd Buys Shares of 12,571 Catalyst Pharmaceuticals, Inc. $CPRX

Y Intercept Hong Kong Ltd bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,571 shares of the biopharmaceutical company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Algert Global LLC boosted its position in Catalyst Pharmaceuticals by 1.0% in the first quarter. Algert Global LLC now owns 48,390 shares of the biopharmaceutical company’s stock valued at $1,173,000 after buying an additional 470 shares in the last quarter. Hancock Whitney Corp grew its position in Catalyst Pharmaceuticals by 1.4% during the 1st quarter. Hancock Whitney Corp now owns 38,847 shares of the biopharmaceutical company’s stock worth $942,000 after acquiring an additional 525 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Catalyst Pharmaceuticals by 0.4% in the 2nd quarter. New York State Teachers Retirement System now owns 149,887 shares of the biopharmaceutical company’s stock worth $3,253,000 after purchasing an additional 577 shares in the last quarter. Hohimer Wealth Management LLC raised its position in Catalyst Pharmaceuticals by 3.6% in the first quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company’s stock valued at $438,000 after purchasing an additional 629 shares during the last quarter. Finally, Vestcor Inc boosted its stake in shares of Catalyst Pharmaceuticals by 3.0% during the first quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 840 shares in the last quarter. 79.22% of the stock is owned by institutional investors.

Catalyst Pharmaceuticals Stock Up 1.9%

CPRX opened at $21.39 on Friday. Catalyst Pharmaceuticals, Inc. has a twelve month low of $19.05 and a twelve month high of $26.58. The company has a fifty day moving average of $20.50 and a 200-day moving average of $21.79. The stock has a market cap of $2.63 billion, a PE ratio of 12.96, 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 EPS for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The business had revenue of $53.11 million for the quarter. Sell-side analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current fiscal year.

Catalyst Pharmaceuticals declared that its board has initiated a share buyback program on Wednesday, October 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CPRX has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer reiterated an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday. Citigroup boosted their price objective on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Zacks Research lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $33.14.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Steve Miller sold 115,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $20.28, for a total value of $2,332,200.00. Following the transaction, the insider directly owned 949,663 shares of the company’s stock, valued at approximately $19,259,165.64. The trade was a 10.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the completion of the sale, the chief executive officer owned 226,794 shares of the company’s stock, valued at $4,676,492.28. This represents a 9.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 243,970 shares of company stock valued at $4,927,241. Company insiders own 10.40% of the company’s stock.

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.