AlphaQuest LLC Increases Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

AlphaQuest LLC lifted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 17.6% in the 4th quarter, HoldingsChannel reports. The firm owned 43,916 shares of the biopharmaceutical company’s stock after acquiring an additional 6,582 shares during the period. AlphaQuest LLC’s holdings in Catalyst Pharmaceuticals were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRX. abrdn plc purchased a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth $10,115,000. Raymond James Financial Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth $6,887,000. Jane Street Group LLC increased its stake in shares of Catalyst Pharmaceuticals by 245.4% in the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock worth $7,990,000 after purchasing an additional 285,564 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Catalyst Pharmaceuticals in the 3rd quarter worth $4,936,000. Finally, Pacer Advisors Inc. increased its stake in shares of Catalyst Pharmaceuticals by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock worth $61,681,000 after purchasing an additional 151,495 shares in the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Stock Down 5.9 %

CPRX opened at $20.67 on Tuesday. The firm has a 50-day simple moving average of $22.28 and a two-hundred day simple moving average of $21.52. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $24.64. The company has a market capitalization of $2.51 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84.

Insider Buying and Selling at Catalyst Pharmaceuticals

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 transaction 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary Ingenito sold 44,904 shares of the stock in a transaction dated Wednesday, March 5th. The shares were 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 approximately $1,521,404.57. The trade was a 39.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Truist Financial increased their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America reiterated a “buy” rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Robert W. Baird increased their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.50.

About Catalyst Pharmaceuticals

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.