Arrowstreet Capital Limited Partnership Buys 396,506 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Arrowstreet Capital Limited Partnership grew its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 131.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 698,152 shares of the biopharmaceutical company's stock after acquiring an additional 396,506 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.59% of Catalyst Pharmaceuticals worth $14,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Catalyst Pharmaceuticals by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company's stock valued at $23,215,000 after purchasing an additional 50,804 shares in the last quarter. Cerity Partners LLC grew 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 buying an additional 6,847 shares during the last quarter. FMR LLC increased its position in shares of Catalyst Pharmaceuticals by 24.3% during the third quarter. FMR LLC now owns 98,580 shares of the biopharmaceutical company's stock worth $1,960,000 after acquiring an additional 19,270 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter worth about $151,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Catalyst Pharmaceuticals by 206.1% in the 3rd 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 last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares of the company's stock, valued at $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction 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 $4,333,200.72. This represents a 25.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird boosted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. HC Wainwright reaffirmed a "buy" rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Bank of America reissued a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Stephens reaffirmed an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Finally, Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $32.29.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock traded up $1.34 during trading hours on Wednesday, hitting $22.74. 2,316,884 shares of the company's stock traded hands, compared to its average volume of 1,138,895. The company has a fifty day simple moving average of $22.68 and a 200-day simple moving average of $21.98. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 19.27, a PEG 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 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.