Prudential Financial Inc. Raises Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Prudential Financial Inc. boosted its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 30.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 553,424 shares of the biopharmaceutical company’s stock after buying an additional 128,525 shares during the period. Prudential Financial Inc. owned approximately 0.46% of Catalyst Pharmaceuticals worth $11,550,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPRX. Vanguard Group Inc. raised its stake in shares of Catalyst Pharmaceuticals by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock valued at $175,957,000 after acquiring an additional 390,116 shares during the period. LPL Financial LLC lifted its stake in shares of Catalyst Pharmaceuticals by 38.0% during the fourth quarter. LPL Financial LLC now owns 57,983 shares of the biopharmaceutical company’s stock worth $1,210,000 after purchasing an additional 15,961 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth about $772,000. Sei Investments Co. grew its stake in shares of Catalyst Pharmaceuticals by 14.6% in the fourth quarter. Sei Investments Co. now owns 116,318 shares of the biopharmaceutical company’s stock valued at $2,428,000 after buying an additional 14,849 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Catalyst Pharmaceuticals by 18.3% during the 4th quarter. American Century Companies Inc. now owns 157,409 shares of the biopharmaceutical company’s stock valued at $3,285,000 after buying an additional 24,395 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CPRX shares. Robert W. Baird lifted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Stephens restated an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $32.29.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction dated 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 completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of the business’s stock in a transaction dated 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 represents a 39.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Stock Down 0.6 %

Shares of Catalyst Pharmaceuticals stock opened at $24.69 on Friday. The business has a 50-day moving average price of $22.66 and a 200 day moving average price of $21.80. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $26.16. The firm has a market cap of $3.00 billion, a P/E ratio of 20.92, a P/E/G ratio of 3.31 and a beta of 0.84.

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.