Meritage Portfolio Management Buys 23,554 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Meritage Portfolio Management boosted its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 121.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,914 shares of the biopharmaceutical company's stock after purchasing an additional 23,554 shares during the period. Meritage Portfolio Management's holdings in Catalyst Pharmaceuticals were worth $853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Catalyst Pharmaceuticals by 62.1% in the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 681 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $50,000. CWM LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 686.5% during the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company's stock worth $63,000 after buying an additional 3,549 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth $70,000. Finally, SG Americas Securities LLC bought a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth $173,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CPRX shares. Truist Financial upped their price objective on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, August 9th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday. Finally, Citigroup upped their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $30.50.

Catalyst Pharmaceuticals Trading Down 2.0 %

NASDAQ:CPRX traded down $0.48 during trading hours on Monday, hitting $23.45. 1,929,695 shares of the company traded hands, compared to its average volume of 1,195,088. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 3.82 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a twelve month low of $12.43 and a twelve month high of $24.27. The firm has a 50-day moving average of $20.81 and a 200 day moving average of $18.17.

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Steve Miller sold 150,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the completion of the transaction, the insider now owns 675,124 shares in the company, valued at approximately $13,738,773.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director David S. Tierney sold 15,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the transaction, the director now owns 348,874 shares in the company, valued at approximately $7,012,367.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steve Miller sold 150,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the completion of the transaction, the insider now owns 675,124 shares of the company's stock, valued at approximately $13,738,773.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company's stock.

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.