Federated Hermes Inc. Buys 120,249 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Federated Hermes Inc. raised its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 222.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,390 shares of the biopharmaceutical company's stock after buying an additional 120,249 shares during the period. Federated Hermes Inc. owned about 0.15% of Catalyst Pharmaceuticals worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of Catalyst Pharmaceuticals by 1.4% in the fourth quarter. Russell Investments Group Ltd. now owns 176,259 shares of the biopharmaceutical company's stock valued at $3,679,000 after buying an additional 2,471 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Catalyst Pharmaceuticals by 162.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 64,395 shares of the biopharmaceutical company's stock worth $1,344,000 after acquiring an additional 39,836 shares during the last quarter. Bryce Point Capital LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth about $1,134,000. Meeder Asset Management Inc. lifted its position in shares of Catalyst Pharmaceuticals by 163.1% during the fourth quarter. Meeder Asset Management Inc. now owns 11,833 shares of the biopharmaceutical company's stock worth $247,000 after purchasing an additional 7,336 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Catalyst Pharmaceuticals by 76.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,349 shares of the biopharmaceutical company's stock valued at $404,000 after purchasing an additional 8,367 shares during the last quarter. Institutional investors own 79.22% of the company's stock.

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Wall Street Analyst Weigh In

CPRX has been the topic of several research reports. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America reiterated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens reissued an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $32.29.

Catalyst Pharmaceuticals Stock Performance

CPRX traded up $0.43 during midday trading on Tuesday, reaching $23.23. 932,770 shares of the company were exchanged, compared to its average volume of 1,141,772. The stock has a market capitalization of $2.82 billion, a P/E ratio of 19.69, a PEG ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a one year low of $14.47 and a one year high of $26.16. The stock's 50-day simple moving average is $22.62 and its 200 day simple moving average is $22.05.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now owns 68,873 shares in the company, valued at $1,521,404.57. This represents a 39.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the insider now owns 188,564 shares in the company, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate 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.