Wells Fargo & Company MN Sells 73,111 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Wells Fargo & Company MN trimmed its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,820 shares of the biopharmaceutical company's stock after selling 73,111 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Catalyst Pharmaceuticals worth $1,728,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after acquiring an additional 390,116 shares during the period. Pacer Advisors Inc. grew 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 worth $61,681,000 after buying an additional 151,495 shares in the last quarter. Boston Partners grew its stake in Catalyst Pharmaceuticals by 1.3% during the fourth quarter. Boston Partners now owns 1,291,868 shares of the biopharmaceutical company's stock worth $27,325,000 after buying an additional 16,601 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Catalyst Pharmaceuticals by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,246,925 shares of the biopharmaceutical company's stock worth $26,023,000 after buying an additional 79,182 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Catalyst Pharmaceuticals by 80.3% during the fourth quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company's stock worth $15,364,000 after buying an additional 327,936 shares in the last quarter. 79.22% of the stock is owned by institutional investors.

Catalyst Pharmaceuticals Stock Up 0.8 %

Shares of NASDAQ:CPRX traded up $0.18 during trading on Monday, hitting $23.63. 609,513 shares of the company were exchanged, compared to its average volume of 1,106,882. The company has a market capitalization of $2.88 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $26.16. The business's 50 day moving average is $22.60 and its 200-day moving average is $22.24.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CPRX. HC Wainwright reiterated a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Stephens reiterated an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Bank of America reissued a "buy" rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, Robert W. Baird boosted their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $32.29.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the stock in a transaction 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 $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction 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 completion of the sale, the insider now owns 188,564 shares of the company's stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by company insiders.

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.