Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stake Lowered by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,233,834 shares of the biopharmaceutical company's stock after selling 195,139 shares during the period. First Trust Advisors LP owned 1.87% of Catalyst Pharmaceuticals worth $46,620,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. abrdn plc acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter worth $10,115,000. Arrowstreet Capital Limited Partnership lifted its position in Catalyst Pharmaceuticals by 131.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after purchasing an additional 396,506 shares during the last quarter. Vanguard Group Inc. boosted its stake in Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock valued at $175,957,000 after purchasing an additional 390,116 shares during the period. Raymond James Financial Inc. bought a new position in Catalyst Pharmaceuticals in the 4th quarter worth about $6,887,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Catalyst Pharmaceuticals by 80.3% in the fourth quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company's stock valued at $15,364,000 after purchasing an additional 327,936 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPRX has been the subject of a number of recent analyst reports. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 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. Robert W. Baird increased 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, March 3rd. Bank of America restated a "buy" rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Finally, Stephens reiterated an "overweight" rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $32.29.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. The trade was a 39.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the completion of the sale, the insider now owns 188,564 shares of the company's stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Up 1.1 %

NASDAQ:CPRX traded up $0.26 during trading hours on Friday, reaching $23.45. 612,029 shares of the company's stock were exchanged, compared to its average volume of 1,108,879. The company has a market capitalization of $2.86 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 12 month low of $14.47 and a 12 month high of $26.16. The business's 50-day simple moving average is $22.58 and its two-hundred day simple moving average is $22.20.

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.