Raymond James Financial Inc. Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Raymond James Financial Inc. bought a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 329,980 shares of the biopharmaceutical company's stock, valued at approximately $6,887,000. Raymond James Financial Inc. owned approximately 0.28% of Catalyst Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. abrdn plc bought a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $10,115,000. Jane Street Group LLC raised its stake in shares of Catalyst Pharmaceuticals by 245.4% in the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company's stock worth $7,990,000 after buying an additional 285,564 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the third quarter valued at $4,936,000. Pacer Advisors Inc. boosted its stake in Catalyst Pharmaceuticals by 5.4% during the fourth quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company's stock valued at $61,681,000 after buying an additional 151,495 shares in the last quarter. Finally, Barclays PLC grew its holdings in Catalyst Pharmaceuticals by 129.4% during the third quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company's stock worth $4,939,000 after acquiring an additional 140,129 shares during the period. Institutional investors and hedge funds own 79.22% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Robert W. Baird lifted their price target 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. Stephens reiterated an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Bank of America reaffirmed a "buy" rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Seven equities research 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, the company presently has a consensus rating of "Buy" and an average target price of $32.29.

Remove Ads

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock traded down $0.31 on Thursday, reaching $24.84. 958,460 shares of the company's stock traded hands, compared to its average volume of 1,067,826. Catalyst Pharmaceuticals, Inc. has a 12-month low of $14.47 and a 12-month high of $26.16. The business's 50 day moving average price is $22.57 and its two-hundred day moving average price is $21.74. The company has a market capitalization of $3.02 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $991,929.36. Following the completion of the transaction, the insider now owns 68,873 shares in the company, valued at $1,521,404.57. This trade 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 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.