Royce & Associates LP Trims Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Royce & Associates LP lowered its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,864,351 shares of the biopharmaceutical company’s stock after selling 156,754 shares during the quarter. Royce & Associates LP owned about 1.56% of Catalyst Pharmaceuticals worth $38,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Catalyst Pharmaceuticals by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock worth $8,116,000 after purchasing an additional 33,888 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Catalyst Pharmaceuticals by 13.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock worth $8,710,000 after purchasing an additional 50,888 shares during the period. Wellington Management Group LLP purchased a new stake in Catalyst Pharmaceuticals in the third quarter worth about $1,185,000. Redhawk Wealth Advisors Inc. purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter worth about $1,273,000. Finally, Spire Wealth Management grew its holdings in Catalyst Pharmaceuticals by 1,342.9% in the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock worth $301,000 after purchasing an additional 13,429 shares during the period. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CPRX. Robert W. Baird increased their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Bank of America reiterated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.50.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now owns 68,873 shares in the company, valued at $1,521,404.57. The trade was a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Trading Up 0.7 %

CPRX opened at $21.02 on Friday. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $24.64. The company has a market capitalization of $2.55 billion, a PE ratio of 17.81, a PEG ratio of 3.31 and a beta of 0.84. The firm’s 50 day simple moving average is $22.26 and its two-hundred day simple moving average is $21.53.

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.