Bayforest Capital Ltd Acquires Shares of 9,582 Catalyst Pharmaceuticals, Inc. $CPRX

Bayforest Capital Ltd acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 9,582 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in Catalyst Pharmaceuticals by 26.2% in the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 579 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Catalyst Pharmaceuticals by 57.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 2,002 shares during the last quarter. US Bancorp DE grew its position in Catalyst Pharmaceuticals by 17.8% in the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock valued at $178,000 after acquiring an additional 1,105 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Catalyst Pharmaceuticals during the 1st quarter worth $182,000. Finally, Headlands Technologies LLC bought a new position in shares of Catalyst Pharmaceuticals during the 1st quarter worth $188,000. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX opened at $20.53 on Friday. The stock has a market capitalization of $2.51 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 0.85 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 1-year low of $19.05 and a 1-year high of $26.58. The business has a fifty day moving average price of $20.23 and a 200 day moving average price of $21.96.

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

Catalyst Pharmaceuticals announced that its board has approved a share repurchase plan on Wednesday, October 1st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David S. Tierney sold 26,000 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the completion of the sale, the director directly owned 379,620 shares in the company, valued at $7,668,324. This represents a 6.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steve Miller sold 115,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the completion of the sale, the insider owned 949,663 shares of the company’s stock, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,970 shares of company stock valued at $4,927,241. Company insiders own 10.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $33.20.

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.