Magnetar Financial LLC Acquires 6,841 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Magnetar Financial LLC increased its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 54.7% in the fourth quarter, HoldingsChannel reports. The firm owned 19,341 shares of the biopharmaceutical company’s stock after purchasing an additional 6,841 shares during the period. Magnetar Financial LLC’s holdings in Catalyst Pharmaceuticals were worth $404,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Catalyst Pharmaceuticals by 5.8% during the third quarter. Victory Capital Management Inc. now owns 291,505 shares of the biopharmaceutical company’s stock valued at $5,795,000 after acquiring an additional 15,996 shares during the period. Natixis Advisors LLC boosted its holdings in Catalyst Pharmaceuticals by 37.7% during the third quarter. Natixis Advisors LLC now owns 45,637 shares of the biopharmaceutical company’s stock valued at $907,000 after acquiring an additional 12,491 shares during the period. Segall Bryant & Hamill LLC bought a new stake in Catalyst Pharmaceuticals during the third quarter valued at about $808,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Catalyst Pharmaceuticals during the third quarter valued at about $200,000. Finally, Advisors Asset Management Inc. boosted its holdings in Catalyst Pharmaceuticals by 6.9% during the third quarter. Advisors Asset Management Inc. now owns 177,333 shares of the biopharmaceutical company’s stock valued at $3,525,000 after acquiring an additional 11,484 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CPRX. Bank of America restated a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Baird R W raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.29.

Catalyst Pharmaceuticals Stock Up 4.6 %

NASDAQ:CPRX opened at $24.23 on Friday. Catalyst Pharmaceuticals, Inc. has a 12-month low of $14.47 and a 12-month high of $24.64. The firm has a market capitalization of $2.94 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The firm has a 50-day moving average price of $22.39 and a 200 day moving average price of $21.62.

Insider Buying and Selling

In related 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 transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary Ingenito sold 44,904 shares of the 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 trade represents a 39.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

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.