Advisors Asset Management Inc. Boosts Position in Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Advisors Asset Management Inc. increased its stake in Catalyst Pharmaceuticals by 7.7%, acquiring a total of 178,866 shares worth $4.34 million at the end of the quarter.
• Insider selling activity was noted, with director Brian Elsbernd selling 30,000 shares, reflecting a 13.73% decrease in ownership.
• Recent analyst ratings for Catalyst Pharmaceuticals are mixed, with Zacks downgrading to a "hold," while other firms upgraded to "buy" or "strong-buy," leading to a consensus rating of "Buy."

Advisors Asset Management Inc. boosted its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,866 shares of the biopharmaceutical company's stock after buying an additional 12,819 shares during the period. Advisors Asset Management Inc. owned approximately 0.15% of Catalyst Pharmaceuticals worth $4,338,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Algert Global LLC grew its stake in Catalyst Pharmaceuticals by 1.0% in the first quarter. Algert Global LLC now owns 48,390 shares of the biopharmaceutical company's stock valued at $1,173,000 after acquiring an additional 470 shares during the period. GAMMA Investing LLC raised its position in shares of Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 579 shares during the period. Hohimer Wealth Management LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 3.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company's stock worth $438,000 after purchasing an additional 629 shares in the last quarter. Vestcor Inc grew its position in Catalyst Pharmaceuticals by 3.0% in the 1st quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company's stock valued at $696,000 after purchasing an additional 840 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Catalyst Pharmaceuticals by 1.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 60,638 shares of the biopharmaceutical company's stock valued at $1,470,000 after purchasing an additional 929 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on CPRX shares. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Zacks Research lowered Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Catalyst Pharmaceuticals presently has an average rating of "Buy" and an average price target of $33.20.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Steve Miller sold 115,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the completion of the transaction, the insider directly owned 949,663 shares of the company's stock, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the sale, the insider directly owned 271,039 shares in the company, valued at $5,502,091.70. The trade was a 9.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,970 shares of company stock worth $4,927,241 over the last ninety days. Company insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX traded up $0.51 during trading on Thursday, reaching $20.25. 1,550,186 shares of the stock traded hands, compared to its average volume of 1,477,149. The stock has a market capitalization of $2.48 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 0.79 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a 52-week low of $19.15 and a 52-week high of $26.58. The company has a 50-day moving average of $20.74 and a 200-day moving average of $22.37.

Catalyst Pharmaceuticals 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.