Gables Capital Management Inc. Has $8.71 Million Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Gables Capital Management Inc. lowered its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 2.3% in the fourth quarter, HoldingsChannel reports. The fund owned 417,551 shares of the biopharmaceutical company’s stock after selling 9,700 shares during the period. Catalyst Pharmaceuticals accounts for approximately 4.2% of Gables Capital Management Inc.’s investment portfolio, making the stock its 3rd largest holding. Gables Capital Management Inc.’s holdings in Catalyst Pharmaceuticals were worth $8,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Catalyst Pharmaceuticals by 9.1% during the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock worth $8,116,000 after acquiring an additional 33,888 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Catalyst Pharmaceuticals by 13.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock worth $8,710,000 after acquiring an additional 50,888 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth $1,185,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth $1,273,000. Finally, Spire Wealth Management raised its position in shares of Catalyst Pharmaceuticals by 1,342.9% during the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 13,429 shares during the last quarter. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock opened at $20.67 on Tuesday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $24.64. The business has a 50-day moving average of $22.28 and a two-hundred day moving average of $21.52. The company has a market capitalization of $2.51 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CPRX shares. Robert W. Baird boosted their target price on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Bank of America reiterated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Finally, Stephens reiterated an “overweight” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.50.

Insiders Place Their Bets

In other news, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

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.