Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Sold by Summit Global Investments

Summit Global Investments lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,881 shares of the biopharmaceutical company’s stock after selling 3,411 shares during the quarter. Summit Global Investments’ holdings in Catalyst Pharmaceuticals were worth $1,542,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth $27,000. Farther Finance Advisors LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 125.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 1,495 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 27,218.2% during the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,994 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth $65,000. Finally, KBC Group NV boosted its holdings in shares of Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 1,542 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the firm’s 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 directly owns 188,564 shares in the company, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CPRX has been the topic of several analyst reports. Robert W. Baird raised their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. 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 target price on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Finally, Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $32.29.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX opened at $24.23 on Friday. The business’s 50-day moving average is $22.39 and its two-hundred day moving average is $21.62. 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.

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.