Summit Global Investments Acquires 1,923 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Summit Global Investments increased its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,292 shares of the biopharmaceutical company’s stock after purchasing an additional 1,923 shares during the quarter. Summit Global Investments owned approximately 0.07% of Catalyst Pharmaceuticals worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 12.1% during the first quarter. Vanguard Group Inc. now owns 7,980,661 shares of the biopharmaceutical company’s stock valued at $127,212,000 after purchasing an additional 860,244 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Catalyst Pharmaceuticals by 9.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,000,756 shares of the biopharmaceutical company’s stock valued at $46,479,000 after purchasing an additional 263,099 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 130,918.8% during the second quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock valued at $45,968,000 after purchasing an additional 2,965,310 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Catalyst Pharmaceuticals by 139.5% during the first quarter. Janus Henderson Group PLC now owns 2,726,388 shares of the biopharmaceutical company’s stock valued at $43,445,000 after purchasing an additional 1,587,794 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 15.2% during the second quarter. Renaissance Technologies LLC now owns 2,175,727 shares of the biopharmaceutical company’s stock valued at $33,702,000 after purchasing an additional 287,300 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CPRX has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Citigroup boosted their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial boosted their price objective on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $29.50.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX opened at $23.93 on Friday. The firm’s 50 day moving average price is $20.74 and its 200-day moving average price is $18.06. Catalyst Pharmaceuticals, Inc. has a 52-week low of $12.27 and a 52-week high of $24.27. The company has a market cap of $2.84 billion, a PE ratio of 44.32, a P/E/G ratio of 3.47 and a beta of 0.75.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.13. The company had revenue of $122.71 million during the quarter, compared to the consensus estimate of $111.76 million. Catalyst Pharmaceuticals had a net margin of 15.69% and a return on equity of 27.77%. On average, analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director David S. Tierney sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the transaction, the director now owns 348,874 shares in the company, valued at approximately $7,012,367.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Catalyst Pharmaceuticals news, Director David S. Tierney sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the transaction, the director now owns 348,874 shares in the company, valued at approximately $7,012,367.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steve Miller sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the completion of the transaction, the insider now owns 675,124 shares of the company’s stock, valued at approximately $13,738,773.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate insiders.

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.