Chase Investment Counsel Corp Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Chase Investment Counsel Corp acquired a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,000 shares of the biopharmaceutical company's stock, valued at approximately $1,126,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at about $339,000. Oppenheimer & Co. Inc. increased its position in shares of Catalyst Pharmaceuticals by 28.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 104,487 shares of the biopharmaceutical company's stock worth $2,181,000 after acquiring an additional 23,078 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Catalyst Pharmaceuticals by 1.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 204,024 shares of the biopharmaceutical company's stock valued at $4,258,000 after acquiring an additional 3,742 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Catalyst Pharmaceuticals by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 723,545 shares of the biopharmaceutical company's stock worth $15,100,000 after purchasing an additional 9,194 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Catalyst Pharmaceuticals during the 4th quarter worth $581,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Trading Down 1.0 %

Shares of NASDAQ:CPRX traded down $0.21 on Wednesday, hitting $21.89. 993,205 shares of the company were exchanged, compared to its average volume of 1,271,383. The firm has a market capitalization of $2.66 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 3.31 and a beta of 0.80. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $24.64. The stock's 50 day moving average price is $22.27 and its 200 day moving average price is $21.49.

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Analyst Ratings Changes

CPRX has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Monday. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. HC Wainwright reiterated a "buy" rating and issued a $35.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Truist Financial raised their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a "buy" rating in a report on Monday, November 11th. Finally, Bank of America reiterated a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Eight 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, Catalyst Pharmaceuticals has an average rating of "Buy" and an average target price of $32.50.

Insiders Place Their Bets

In related news, insider Steve Miller sold 50,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total transaction of $1,096,500.00. Following the completion of the sale, the insider now owns 686,996 shares of the company's stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by 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.