Canada Pension Plan Investment Board Purchases Shares of 59,600 Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Canada Pension Plan Investment Board bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,600 shares of the biopharmaceutical company's stock, valued at approximately $1,244,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CPRX. Steward Partners Investment Advisory LLC acquired a new stake in shares of Catalyst Pharmaceuticals in 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 period. Wilmington Savings Fund Society FSB purchased a new position in shares of Catalyst Pharmaceuticals during the 4th quarter valued at $65,000. KBC Group NV grew its holdings in shares of Catalyst Pharmaceuticals by 48.8% during the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock valued at $98,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Catalyst Pharmaceuticals in the fourth quarter worth $134,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the sale, the insider now owns 188,564 shares of the company's stock, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 10.40% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX traded up $0.01 during midday trading on Wednesday, reaching $24.29. The stock had a trading volume of 942,088 shares, compared to its average volume of 1,105,389. The stock has a market capitalization of $2.96 billion, a P/E ratio of 20.58, a PEG ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $26.16. The firm's fifty day simple moving average is $22.70 and its 200-day simple moving average is $22.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CPRX shares. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Robert W. Baird raised 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. Stephens reissued an "overweight" rating and issued 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 report on Monday, February 3rd. Finally, Bank of America reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Catalyst Pharmaceuticals has an average rating of "Buy" and an average price target 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.