CWA Asset Management Group LLC Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

CWA Asset Management Group LLC purchased a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,845 shares of the biopharmaceutical company's stock, valued at approximately $534,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System boosted its stake in Catalyst Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company's stock worth $461,000 after purchasing an additional 654 shares in the last quarter. GAMMA Investing LLC raised its holdings in Catalyst Pharmaceuticals by 62.1% during the third quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $35,000 after buying an additional 681 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Catalyst Pharmaceuticals by 6.9% during the first quarter. Ameritas Investment Partners Inc. now owns 11,116 shares of the biopharmaceutical company's stock valued at $177,000 after buying an additional 720 shares during the period. XTX Topco Ltd grew its position in shares of Catalyst Pharmaceuticals by 7.5% during the 2nd quarter. XTX Topco Ltd now owns 11,134 shares of the biopharmaceutical company's stock valued at $172,000 after purchasing an additional 773 shares in the last quarter. Finally, Strategic Advocates LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 6.5% in the 2nd quarter. Strategic Advocates LLC now owns 14,142 shares of the biopharmaceutical company's stock worth $219,000 after acquiring an additional 864 shares during the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPRX. Citigroup increased their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday. Truist Financial upped their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday. Finally, StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $30.50.

Insiders Place Their Bets

In other news, Director David S. Tierney sold 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the sale, the director now directly owns 348,874 shares of the company's stock, valued at $7,012,367.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director David S. Tierney sold 15,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred 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 $7,012,367.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Miller sold 150,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.00% of the company's stock.

Catalyst Pharmaceuticals Trading Down 1.7 %

Catalyst Pharmaceuticals stock traded down $0.41 during trading on Tuesday, hitting $23.04. 1,313,677 shares of the company were exchanged, compared to its average volume of 1,195,632. The company has a market capitalization of $2.75 billion, a P/E ratio of 19.87, a PEG ratio of 3.82 and a beta of 0.75. The business's 50 day moving average is $20.81 and its 200 day moving average is $18.17. Catalyst Pharmaceuticals, Inc. has a 52 week low of $12.43 and a 52 week high of $24.27.

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.