Invesco Ltd. Reduces Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Invesco Ltd. cut its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,851 shares of the biopharmaceutical company's stock after selling 92,675 shares during the period. Invesco Ltd. owned about 0.71% of Catalyst Pharmaceuticals worth $17,674,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth $27,000. Farther Finance Advisors LLC increased its position 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 worth $56,000 after purchasing an additional 1,495 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Catalyst Pharmaceuticals in the 4th quarter valued at about $65,000. KBC Group NV lifted its holdings in Catalyst Pharmaceuticals by 48.8% in the 4th 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth about $134,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Catalyst Pharmaceuticals Price Performance

CPRX stock traded up $0.04 during trading on Friday, reaching $23.23. 166,481 shares of the stock traded hands, compared to its average volume of 1,105,125. The firm has a market capitalization of $2.83 billion, a PE ratio of 19.70, a P/E/G ratio of 3.31 and a beta of 0.79. The business's 50 day moving average price is $22.57 and its 200-day moving average price is $22.16. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.47 and a 52-week high of $26.16.

Insider Activity

In other news, insider Brian Elsbernd sold 62,975 shares of the firm's 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 transaction, the insider now owns 188,564 shares of the company's stock, valued at approximately $4,333,200.72. This trade represents a 25.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction 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 owns 68,873 shares in the company, valued at $1,521,404.57. The trade was a 39.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPRX. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America reissued a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. Robert W. Baird increased their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Finally, Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.29.

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.