Deerfield Management Company L.P. Series C Decreases Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Deerfield Management Company L.P. Series C cut its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,133,011 shares of the biopharmaceutical company's stock after selling 3,096,623 shares during the quarter. Catalyst Pharmaceuticals makes up approximately 1.2% of Deerfield Management Company L.P. Series C's holdings, making the stock its 23rd largest holding. Deerfield Management Company L.P. Series C owned about 2.63% of Catalyst Pharmaceuticals worth $65,386,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in Catalyst Pharmaceuticals in the 4th quarter worth about $27,000. Farther Finance Advisors LLC raised its stake in Catalyst Pharmaceuticals by 125.1% during the 4th 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter worth $65,000. 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. Finally, Quarry LP acquired a new position in Catalyst Pharmaceuticals during the 4th quarter worth approximately $104,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Trading Down 0.4%

CPRX traded down $0.09 on Tuesday, reaching $23.74. The company had a trading volume of 555,416 shares, compared to its average volume of 1,108,428. Catalyst Pharmaceuticals, Inc. has a one year low of $14.75 and a one year high of $26.16. The company has a market capitalization of $2.90 billion, a P/E ratio of 20.12, a PEG ratio of 3.31 and a beta of 0.70. The company has a fifty day moving average of $23.03 and a 200-day moving average of $22.42.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Ingenito sold 44,904 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. This trade represents a 39.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CPRX. HC Wainwright reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Robert W. Baird upped their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Baird R W raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Monday, February 3rd. Finally, Stephens reissued an "overweight" rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $32.29.

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.