Skandinaviska Enskilda Banken AB publ Purchases 312,000 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Skandinaviska Enskilda Banken AB publ lifted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 74.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 731,900 shares of the biopharmaceutical company's stock after buying an additional 312,000 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.61% of Catalyst Pharmaceuticals worth $15,421,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Catalyst Pharmaceuticals by 9.1% during 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 last quarter. Allspring Global Investments Holdings LLC grew its position in Catalyst Pharmaceuticals by 13.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company's stock worth $8,710,000 after purchasing an additional 50,888 shares during the last quarter. Wellington Management Group LLP purchased a new position in Catalyst Pharmaceuticals during the 3rd quarter worth $1,185,000. Redhawk Wealth Advisors Inc. purchased a new position in Catalyst Pharmaceuticals during the 4th quarter worth $1,273,000. Finally, Spire Wealth Management grew its position in Catalyst Pharmaceuticals by 1,342.9% during the 4th quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 13,429 shares during the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

CPRX has been the topic of several research reports. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Stephens restated an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. Robert W. Baird boosted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, Bank of America reissued a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $32.50.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock traded up $0.27 during trading hours on Tuesday, reaching $22.08. The stock had a trading volume of 1,363,099 shares, compared to its average volume of 1,044,592. Catalyst Pharmaceuticals, Inc. has a twelve month low of $14.47 and a twelve month high of $24.64. The firm has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $21.55. The firm has a market capitalization of $2.68 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other 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 transaction of $1,447,165.50. Following the completion of the transaction, the insider now owns 188,564 shares in the company, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gary Ingenito sold 44,904 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction 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 corporate insiders.

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.