Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 3.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,164 shares of the biopharmaceutical company’s stock after purchasing an additional 1,967 shares during the quarter. Franklin Resources Inc.’s holdings in Catalyst Pharmaceuticals were worth $1,221,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in Catalyst Pharmaceuticals by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 834,415 shares of the biopharmaceutical company’s stock worth $12,925,000 after acquiring an additional 16,960 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Catalyst Pharmaceuticals by 3.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 148,488 shares of the biopharmaceutical company’s stock valued at $2,300,000 after purchasing an additional 5,007 shares during the last quarter. Natixis Advisors LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at approximately $513,000. Rhumbline Advisers increased its holdings in shares of Catalyst Pharmaceuticals by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 323,769 shares of the biopharmaceutical company’s stock worth $5,015,000 after buying an additional 10,805 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. grew its holdings in shares of Catalyst Pharmaceuticals by 29.9% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 934,234 shares of the biopharmaceutical company’s stock worth $14,471,000 after purchasing an additional 215,130 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CPRX. Stephens started coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They issued an “overweight” rating and a $35.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, November 8th. Truist Financial lifted their price objective 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. Finally, StockNews.com lowered shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $31.14.

Insider Activity

In related news, insider Steve Miller sold 50,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the completion of the sale, the insider now owns 686,996 shares in the company, valued at $15,065,822.28. This represents a 6.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $272,640.00. Following the completion of the sale, the insider now directly owns 51,391 shares of the company’s stock, valued at $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,500 shares of company stock worth $1,754,140. 11.00% of the stock is currently owned by insiders.

Catalyst Pharmaceuticals Stock Down 2.0 %

NASDAQ CPRX opened at $21.47 on Friday. The stock has a market capitalization of $2.56 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 3.35 and a beta of 0.75. The firm has a 50 day moving average of $21.82 and a two-hundred day moving average of $19.49. Catalyst Pharmaceuticals, Inc. has a 52 week low of $13.12 and a 52 week high of $24.27.

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.