Proficio Capital Partners LLC Makes New $339,000 Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Proficio Capital Partners LLC bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,258 shares of the biopharmaceutical company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRX. Pacer Advisors Inc. increased its position in shares of Catalyst Pharmaceuticals by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company's stock worth $61,681,000 after acquiring an additional 151,495 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 during the period. Bank of New York Mellon Corp increased its holdings in Catalyst Pharmaceuticals by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 723,545 shares of the biopharmaceutical company's stock valued at $15,100,000 after purchasing an additional 9,194 shares in the last quarter. Principal Financial Group Inc. raised its position in Catalyst Pharmaceuticals by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 600,488 shares of the biopharmaceutical company's stock valued at $12,532,000 after purchasing an additional 24,535 shares during the period. Finally, abrdn plc acquired a new position in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $10,115,000. Institutional investors and hedge funds own 79.22% of the company's stock.

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Catalyst Pharmaceuticals Price Performance

CPRX traded down $0.15 during trading on Friday, hitting $24.69. The company had a trading volume of 937,935 shares, compared to its average volume of 1,113,694. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $26.16. The company has a market cap of $3.00 billion, a PE ratio of 20.92, a P/E/G ratio of 3.31 and a beta of 0.84. The business has a 50-day moving average of $22.66 and a 200-day moving average of $21.81.

Insider Activity at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 44,904 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRX has been the topic of several analyst reports. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. 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 research report on Monday, March 3rd. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Bank of America restated a "buy" rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, Stephens reaffirmed an "overweight" rating and set 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's stock. According to MarketBeat, Catalyst Pharmaceuticals currently has a consensus rating of "Buy" and an average 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.