Canada Pension Plan Investment Board Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Canada Pension Plan Investment Board bought a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 59,600 shares of the biopharmaceutical company's stock, valued at approximately $1,244,000.

Several other large investors also recently modified their holdings of CPRX. Vanguard Group Inc. lifted its stake in Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after purchasing an additional 390,116 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Catalyst Pharmaceuticals by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company's stock worth $61,681,000 after buying an additional 151,495 shares during the last quarter. Renaissance Technologies LLC grew its position in Catalyst Pharmaceuticals by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,706,116 shares of the biopharmaceutical company's stock valued at $56,477,000 after acquiring an additional 180,100 shares during the last quarter. Boston Partners raised its stake in Catalyst Pharmaceuticals by 1.3% during the fourth quarter. Boston Partners now owns 1,291,868 shares of the biopharmaceutical company's stock worth $27,325,000 after acquiring an additional 16,601 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,246,925 shares of the biopharmaceutical company's stock worth $26,023,000 after acquiring an additional 79,182 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CPRX shares. Bank of America reaffirmed a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. HC Wainwright reiterated a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. Stephens reiterated an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $32.29.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 44,904 shares of the 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 transaction, the insider now owns 68,873 shares of the company's stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Elsbernd sold 62,975 shares of the business'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 completion of the sale, the insider now directly owns 188,564 shares of the company's stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX traded up $0.76 during trading hours on Tuesday, hitting $24.39. 400,256 shares of the stock were exchanged, compared to its average volume of 1,308,864. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $26.16. The business has a 50-day moving average of $22.60 and a 200-day moving average of $22.24. The firm has a market capitalization of $2.97 billion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79.

About Catalyst Pharmaceuticals

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.