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

Cornercap Investment Counsel Inc. acquired a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,683 shares of the biopharmaceutical company's stock, valued at approximately $494,000.

A number of other large investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at $27,000. Farther Finance Advisors LLC boosted its stake in Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after purchasing an additional 1,495 shares during the period. Larson Financial Group LLC boosted its stake in Catalyst Pharmaceuticals by 27,218.2% during the 3rd quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company's stock valued at $60,000 after purchasing an additional 2,994 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Catalyst Pharmaceuticals in the 4th quarter worth about $65,000. Finally, KBC Group NV increased its stake in shares of Catalyst Pharmaceuticals by 48.8% in the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock valued at $98,000 after purchasing an additional 1,542 shares during the period. Institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX traded down $0.33 during trading hours on Tuesday, hitting $23.92. 1,282,954 shares of the company's stock traded hands, compared to its average volume of 1,115,103. The company's fifty day simple moving average is $22.71 and its two-hundred day simple moving average is $21.88. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16.

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Wall Street Analysts Forecast Growth

CPRX has been the subject of a number of recent analyst reports. Stephens reissued an "overweight" rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. 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 research note on Monday, March 3rd. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Bank of America restated a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $32.29.

Insider Buying and Selling

In other news, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction on 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 sale, the insider now directly owns 68,873 shares of the company's stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the completion of 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. 11.00% of the stock is currently owned by insiders.

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.