Armis Advisers LLC Invests $306,000 in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Armis Advisers LLC purchased a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,669 shares of the biopharmaceutical company's stock, valued at approximately $306,000.

Other hedge funds have also made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at approximately $37,494,000. Bank of America Corp DE raised its holdings in Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock valued at $32,741,000 after acquiring an additional 913,843 shares in the last quarter. abrdn plc acquired a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $10,115,000. Arrowstreet Capital Limited Partnership raised its holdings in Catalyst Pharmaceuticals by 131.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company's stock worth $14,570,000 after purchasing an additional 396,506 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after purchasing an additional 390,116 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CPRX shares. Robert W. Baird raised their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Wall Street Zen 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 report on Monday, February 3rd. Stephens reissued an "overweight" rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $32.29.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the business's stock in a transaction 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 sale, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. The trade was a 39.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the business'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 sale, the insider now owns 188,564 shares in the company, valued at $4,333,200.72. The trade was a 25.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,879 shares of company stock worth $8,214,815 in the last three months. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX traded up $0.31 during mid-day trading on Friday, reaching $24.89. 2,081,400 shares of the company's stock were exchanged, compared to its average volume of 1,110,361. The stock has a market capitalization of $3.04 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.31 and a beta of 0.70. The business's fifty day simple moving average is $23.57 and its 200-day simple moving average is $22.60. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.75 and a 52-week high of $26.16.

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.