JPMorgan Chase & Co. Boosts Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

JPMorgan Chase & Co. raised its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 9.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 408,261 shares of the biopharmaceutical company’s stock after buying an additional 33,888 shares during the period. JPMorgan Chase & Co.’s holdings in Catalyst Pharmaceuticals were worth $8,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CPRX. Franklin Resources Inc. grew its holdings in Catalyst Pharmaceuticals by 3.4% during the third quarter. Franklin Resources Inc. now owns 59,164 shares of the biopharmaceutical company’s stock worth $1,221,000 after acquiring an additional 1,967 shares during the period. Sanctuary Advisors LLC purchased a new stake in Catalyst Pharmaceuticals in the 3rd quarter worth approximately $667,000. Hohimer Wealth Management LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the 3rd quarter worth approximately $329,000. Vestcor Inc increased its holdings in shares of Catalyst Pharmaceuticals by 18.4% during the 3rd quarter. Vestcor Inc now owns 60,431 shares of the biopharmaceutical company’s stock valued at $1,201,000 after purchasing an additional 9,379 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Catalyst Pharmaceuticals by 129.4% in the 3rd quarter. Barclays PLC now owns 248,458 shares of the biopharmaceutical company’s stock valued at $4,939,000 after purchasing an additional 140,129 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Steve Miller sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 686,996 shares of the company’s stock, valued at approximately $15,065,822.28. This trade represents a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the transaction, the insider now directly owns 51,391 shares in the company, valued at $1,167,603.52. This trade represents a 18.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,500 shares of company stock valued at $1,754,140. 11.00% of the stock is owned by insiders.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock opened at $22.19 on Wednesday. The business has a 50 day simple moving average of $21.78 and a two-hundred day simple moving average of $20.11. The stock has a market capitalization of $2.65 billion, a P/E ratio of 18.81, a PEG ratio of 3.35 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 12 month low of $13.12 and a 12 month high of $24.27.

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 research report on Monday, November 11th. HC Wainwright lifted their price target on Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. StockNews.com downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Bank of America reissued a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Finally, Stephens started coverage on Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $32.86.

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.