Raymond James Financial Inc. Acquires Shares of 329,980 Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Raymond James Financial Inc. purchased a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CPRX. Steward Partners Investment Advisory LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $27,000. Farther Finance Advisors LLC raised its holdings in Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock worth $56,000 after buying an additional 1,495 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth approximately $65,000. KBC Group NV grew its holdings in shares of Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock valued at $98,000 after buying an additional 1,542 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Catalyst Pharmaceuticals in the 4th quarter worth approximately $134,000. Institutional investors own 79.22% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPRX. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. Stephens reaffirmed an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Bank of America reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Finally, Robert W. Baird upped 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. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Catalyst Pharmaceuticals currently has an average rating of "Buy" and an average price target of $32.29.

Catalyst Pharmaceuticals Stock Up 1.1 %

Shares of Catalyst Pharmaceuticals stock traded up $0.26 on Friday, reaching $23.45. The stock had a trading volume of 612,029 shares, compared to its average volume of 1,108,879. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $26.16. The company has a 50 day moving average price of $22.58 and a 200 day moving average price of $22.20. The stock has a market capitalization of $2.86 billion, a P/E ratio of 19.87, a P/E/G ratio of 3.31 and a beta of 0.79.

Insiders Place Their Bets

In other news, insider Brian Elsbernd sold 62,975 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals 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 transaction, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.40% of the company's stock.

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.