Cornercap Investment Counsel Inc. Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Cornercap Investment Counsel Inc. bought a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the 4th quarter, Holdings Channel.com reports. The firm bought 23,683 shares of the biopharmaceutical company’s stock, valued at approximately $494,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Catalyst Pharmaceuticals by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after buying an additional 33,888 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Catalyst Pharmaceuticals by 125.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,495 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Catalyst Pharmaceuticals by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after acquiring an additional 50,888 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Catalyst Pharmaceuticals in the 3rd quarter worth $1,185,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of Catalyst Pharmaceuticals during the 4th quarter valued at about $1,273,000. Institutional investors own 79.22% of the company’s stock.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 44,904 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CPRX. Bank of America reiterated a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Robert W. Baird increased their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Finally, StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.29.

Catalyst Pharmaceuticals Price Performance

Catalyst Pharmaceuticals stock opened at $24.69 on Friday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $26.16. The company’s 50-day moving average is $22.66 and its 200 day moving average is $21.81.

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.