Bank of America Corp DE Acquires 913,843 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Bank of America Corp DE raised its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 139.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,568,791 shares of the biopharmaceutical company's stock after purchasing an additional 913,843 shares during the period. Bank of America Corp DE owned 1.32% of Catalyst Pharmaceuticals worth $32,741,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. abrdn plc acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at about $10,115,000. Arrowstreet Capital Limited Partnership boosted its holdings in Catalyst Pharmaceuticals by 131.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock valued at $14,570,000 after acquiring an additional 396,506 shares during the last quarter. Vanguard Group Inc. increased its position in Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock valued at $175,957,000 after purchasing an additional 390,116 shares during the period. Raymond James Financial Inc. acquired a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at approximately $6,887,000. Finally, JPMorgan Chase & Co. raised its holdings in Catalyst Pharmaceuticals by 80.3% during the 4th quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company's stock worth $15,364,000 after purchasing an additional 327,936 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the transaction, the insider now directly owns 68,873 shares in the company, valued at approximately $1,627,468.99. This trade represents a 38.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction 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 approximately $4,333,200.72. The trade was a 25.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 351,879 shares of company stock worth $8,214,815. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Down 1.6%

CPRX traded down $0.39 during trading on Thursday, hitting $23.93. 72,258 shares of the company's stock were exchanged, compared to its average volume of 1,102,345. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $26.16. The stock has a market cap of $2.92 billion, a P/E ratio of 20.26, a PEG ratio of 3.31 and a beta of 0.70. The business's 50 day moving average is $23.44 and its two-hundred day moving average is $22.52.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. StockNews.com upgraded Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. 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 report on Monday, March 3rd. Stephens reiterated an "overweight" rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note 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. Finally, HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of "Buy" and an average target price of $32.29.

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.