Cynosure Group LLC Reduces Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

by · The Cerbat Gem

Cynosure Group LLC reduced its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Free Report) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,048 shares of the biopharmaceutical company’s stock after selling 3,688 shares during the quarter. Cynosure Group LLC’s holdings in Catalyst Pharmaceuticals were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Catalyst Pharmaceuticals by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock worth $23,215,000 after acquiring an additional 50,804 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 31.3% during the third quarter. Cerity Partners LLC now owns 28,733 shares of the biopharmaceutical company’s stock valued at $571,000 after purchasing an additional 6,847 shares in the last quarter. FMR LLC lifted its stake in Catalyst Pharmaceuticals by 24.3% during the 3rd quarter. FMR LLC now owns 98,580 shares of the biopharmaceutical company’s stock valued at $1,960,000 after acquiring an additional 19,270 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter valued at about $151,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Catalyst Pharmaceuticals by 206.1% in the third quarter. BNP Paribas Financial Markets now owns 153,250 shares of the biopharmaceutical company’s stock worth $3,047,000 after acquiring an additional 103,186 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPRX shares. Stephens restated an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Bank of America reiterated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Robert W. Baird raised their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, Baird R W raised shares of 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $32.29.

Get Our Latest Stock Analysis on CPRX

Insiders Place Their Bets

In related news, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction that occurred 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 directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. The trade was a 25.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Ingenito sold 44,904 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the sale, the insider now directly owns 68,873 shares of the company’s stock, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Trading Down 1.4 %

Shares of NASDAQ:CPRX opened at $24.11 on Friday. The stock has a 50 day moving average of $22.77 and a 200 day moving average of $21.92. The company has a market cap of $2.93 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 12-month low of $14.47 and a 12-month high of $26.16.

Catalyst Pharmaceuticals Profile

(Free Report)

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.

See Also

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