Renaissance Group LLC Invests $4.23 Million in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Renaissance Group LLC bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 202,760 shares of the biopharmaceutical company’s stock, valued at approximately $4,232,000. Renaissance Group LLC owned about 0.17% of Catalyst Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Catalyst Pharmaceuticals by 9.1% in the 3rd 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. Farther Finance Advisors LLC raised its holdings in Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 1,495 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Catalyst Pharmaceuticals by 13.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after buying an additional 50,888 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Catalyst Pharmaceuticals during the third quarter worth approximately $1,185,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $1,273,000. Institutional investors and hedge funds own 79.22% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the firm’s 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 transaction, the insider now owns 188,564 shares of the company’s stock, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the transaction, the insider now owns 68,873 shares of the company’s stock, valued at approximately $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. 11.00% of the stock is owned by insiders.

Catalyst Pharmaceuticals Trading Down 5.5 %

Shares of NASDAQ CPRX opened at $21.81 on Tuesday. The business has a 50 day simple moving average of $22.76 and a 200-day simple moving average of $21.96. Catalyst Pharmaceuticals, Inc. has a twelve month low of $14.47 and a twelve month high of $26.16. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79.

Catalyst Pharmaceuticals Company 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.