Moran Wealth Management LLC Makes New Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Moran Wealth Management LLC acquired a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,075 shares of the biopharmaceutical company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CPRX. Steward Partners Investment Advisory LLC purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at $27,000. Larson Financial Group LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% in the 3rd quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 2,994 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Catalyst Pharmaceuticals in the 4th quarter valued at about $65,000. KBC Group NV boosted its stake in shares of Catalyst Pharmaceuticals by 48.8% in the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,542 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth about $134,000. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the business’s 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 owns 68,873 shares in the company, valued at approximately $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Bank of America reissued a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, Stephens restated an “overweight” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.50.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX opened at $21.20 on Thursday. Catalyst Pharmaceuticals, Inc. has a one year low of $14.47 and a one year high of $24.64. The business has a fifty day moving average price of $22.27 and a 200 day moving average price of $21.52. The company has a market cap of $2.57 billion, a P/E ratio of 17.97, a P/E/G ratio of 3.31 and a beta of 0.84.

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.