Pacer Advisors Inc. Cuts Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Pacer Advisors Inc. lessened its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,804,013 shares of the biopharmaceutical company's stock after selling 163,562 shares during the quarter. Pacer Advisors Inc. owned approximately 2.35% of Catalyst Pharmaceuticals worth $55,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 681 shares during the period. nVerses Capital LLC acquired a new stake in Catalyst Pharmaceuticals in the third quarter valued at approximately $50,000. CWM LLC raised its stake in shares of Catalyst Pharmaceuticals by 686.5% during the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company's stock worth $63,000 after buying an additional 3,549 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at approximately $70,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $153,000. Hedge funds and other institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX traded up $0.36 during midday trading on Friday, reaching $21.48. 863,612 shares of the company's stock were exchanged, compared to its average volume of 1,190,937. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 3.29 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $24.27. The firm's 50 day simple moving average is $21.10 and its two-hundred day simple moving average is $18.49.

Analysts Set New Price Targets

Several equities analysts have issued reports on CPRX shares. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, August 9th. Truist Financial lifted their price objective on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Citigroup increased their target price on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a "buy" rating in a report on Friday, August 9th. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Finally, Stephens assumed coverage on Catalyst Pharmaceuticals in a report on Monday. They issued an "overweight" rating and a $35.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $31.14.

Catalyst Pharmaceuticals Company 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.