Proficio Capital Partners LLC Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

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

A number of other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Catalyst Pharmaceuticals by 28.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 104,487 shares of the biopharmaceutical company's stock valued at $2,181,000 after buying an additional 23,078 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Catalyst Pharmaceuticals by 1.9% during the 4th quarter. Los Angeles Capital Management LLC now owns 204,024 shares of the biopharmaceutical company's stock worth $4,258,000 after purchasing an additional 3,742 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Catalyst Pharmaceuticals by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 723,545 shares of the biopharmaceutical company's stock worth $15,100,000 after purchasing an additional 9,194 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth about $581,000. Finally, Navellier & Associates Inc. lifted its holdings in Catalyst Pharmaceuticals by 15.2% during the 4th quarter. Navellier & Associates Inc. now owns 14,163 shares of the biopharmaceutical company's stock worth $296,000 after purchasing an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company's stock.

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Catalyst Pharmaceuticals Stock Up 0.7 %

Shares of CPRX traded up $0.15 during mid-day trading on Friday, hitting $21.02. 1,110,462 shares of the company's stock traded hands, compared to its average volume of 1,262,567. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $24.64. The firm has a market capitalization of $2.55 billion, a P/E ratio of 17.81, a PEG ratio of 3.31 and a beta of 0.84. The business's 50-day moving average price is $22.26 and its 200-day moving average price is $21.52.

Insider Activity

In related news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The stock was 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 in the company, valued at $4,333,200.72. The trade was a 25.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $991,929.36. Following the sale, the insider now owns 68,873 shares in the company, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.00% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Stephens reaffirmed an "overweight" rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Bank of America reaffirmed a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Finally, Robert W. Baird increased their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.50.

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.