Norges Bank Makes New $1.92 Million Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Norges Bank acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 91,770 shares of the biopharmaceutical company's stock, valued at approximately $1,915,000. Norges Bank owned 0.08% of Catalyst Pharmaceuticals as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CPRX. Vanguard Group Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after buying an additional 390,116 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Catalyst Pharmaceuticals by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company's stock worth $61,681,000 after purchasing an additional 151,495 shares during the period. Boston Partners grew its holdings in shares of Catalyst Pharmaceuticals by 1.3% during the 4th quarter. Boston Partners now owns 1,291,868 shares of the biopharmaceutical company's stock worth $27,325,000 after purchasing an additional 16,601 shares during the period. Charles Schwab Investment Management Inc. increased its position in Catalyst Pharmaceuticals by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,246,925 shares of the biopharmaceutical company's stock worth $26,023,000 after purchasing an additional 79,182 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in 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 buying an additional 327,936 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

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

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, 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 transaction of $1,447,165.50. Following the sale, the insider now directly owns 188,564 shares of the company's stock, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the sale, the insider now directly owns 68,873 shares of the company's stock, valued at approximately $1,521,404.57. This represents a 39.47 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.

Catalyst Pharmaceuticals Stock Up 1.9 %

Shares of CPRX traded up $0.43 during midday trading on Tuesday, hitting $23.23. The company had a trading volume of 932,770 shares, compared to its average volume of 1,142,388. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16. The company's 50 day moving average price is $22.62 and its 200 day moving average price is $22.04.

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.