Neo Ivy Capital Management Takes Position in Catalyst Pharmaceuticals, Inc. $CPRX

by · The Markets Daily

Neo Ivy Capital Management purchased a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 125,627 shares of the biopharmaceutical company’s stock, valued at approximately $2,726,000. Catalyst Pharmaceuticals comprises 0.9% of Neo Ivy Capital Management’s portfolio, making the stock its 20th largest holding. Neo Ivy Capital Management owned 0.10% of Catalyst Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRX. Vanguard Group Inc. boosted its stake in shares of Catalyst Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,495,580 shares of the biopharmaceutical company’s stock valued at $206,018,000 after purchasing an additional 64,486 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Catalyst Pharmaceuticals by 11.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock worth $76,035,000 after buying an additional 333,100 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Catalyst Pharmaceuticals by 3.7% in the second quarter. Geode Capital Management LLC now owns 2,866,683 shares of the biopharmaceutical company’s stock valued at $62,214,000 after buying an additional 101,127 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Catalyst Pharmaceuticals by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,326,771 shares of the biopharmaceutical company’s stock valued at $32,174,000 after acquiring an additional 79,846 shares during the last quarter. Finally, Boston Partners boosted its stake in Catalyst Pharmaceuticals by 0.6% in the second quarter. Boston Partners now owns 1,282,722 shares of the biopharmaceutical company’s stock valued at $27,928,000 after acquiring an additional 7,397 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Brian Elsbernd sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $20.30, for a total value of $609,000.00. Following the sale, the insider directly owned 271,039 shares of the company’s stock, valued at $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total value of $473,641.40. Following the completion of the transaction, the chief executive officer owned 226,794 shares in the company, valued at approximately $4,676,492.28. This represents a 9.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 243,970 shares of company stock worth $4,927,241. 10.40% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ CPRX opened at $22.77 on Friday. The stock’s fifty day moving average is $20.96 and its 200 day moving average is $21.73. The stock has a market capitalization of $2.80 billion, a P/E ratio of 13.80, a PEG ratio of 0.84 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.05 and a 52 week high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Free Report) last posted its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share (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. Equities research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CPRX shares. Citigroup raised their price target on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $32.67.

Get Our Latest Stock Analysis on CPRX

About Catalyst Pharmaceuticals

(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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