Wellington Management Group LLP Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Wellington Management Group LLP purchased a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 59,584 shares of the biopharmaceutical company’s stock, valued at approximately $1,185,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Catalyst Pharmaceuticals by 12.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,028 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 2,002 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Catalyst Pharmaceuticals by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 56,500 shares of the biopharmaceutical company’s stock worth $875,000 after acquiring an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp increased its position in Catalyst Pharmaceuticals by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 834,415 shares of the biopharmaceutical company’s stock valued at $12,925,000 after acquiring an additional 16,960 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Catalyst Pharmaceuticals by 3.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 148,488 shares of the biopharmaceutical company’s stock worth $2,300,000 after acquiring an additional 5,007 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter worth approximately $513,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPRX has been the subject of a number of research reports. Truist Financial raised their price target on shares of Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, November 8th. Finally, Stephens assumed coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $31.14.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $22.72, for a total value of $272,640.00. Following the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at approximately $1,167,603.52. This represents a 18.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steve Miller sold 50,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares of the company’s stock, valued at $15,065,822.28. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,500 shares of company stock worth $1,754,140 in the last 90 days. Corporate insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX opened at $21.46 on Friday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $24.27. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.35 and a beta of 0.75. The business has a 50-day moving average of $21.72 and a 200-day moving average of $19.28.

About Catalyst Pharmaceuticals

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.