Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stake Lifted by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Catalyst Pharmaceuticals by 397.8%, owning 694,125 shares valued at approximately $16.8 million as of the last reporting period.
• Insider transactions revealed significant stock sales, with two insiders selling a combined 46,600 shares over recent weeks, reflecting a decrease in their holdings.
• Catalyst Pharmaceuticals received a "strong-buy" rating from Cantor Fitzgerald, with a consensus price target of $32.83 from analysts.

Allianz Asset Management GmbH increased its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 397.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 694,125 shares of the biopharmaceutical company's stock after acquiring an additional 554,674 shares during the period. Allianz Asset Management GmbH owned approximately 0.57% of Catalyst Pharmaceuticals worth $16,833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth approximately $37,494,000. Bank of America Corp DE increased its holdings in Catalyst Pharmaceuticals by 139.5% during the 4th quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company's stock worth $32,741,000 after purchasing an additional 913,843 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Catalyst Pharmaceuticals by 131.4% during the 4th 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 during the last quarter. Vanguard Group Inc. increased its holdings 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 worth $175,957,000 after purchasing an additional 390,116 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth approximately $6,887,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $32.83.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock traded up $0.31 on Tuesday, hitting $21.11. 304,581 shares of the stock traded hands, compared to its average volume of 1,283,759. The company has a market capitalization of $2.57 billion, a PE ratio of 13.45, a PEG ratio of 0.85 and a beta of 0.66. Catalyst Pharmaceuticals, Inc. has a 1-year low of $15.34 and a 1-year high of $26.58. The company's fifty day moving average is $22.88 and its 200 day moving average is $22.89.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,000 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 68,873 shares of the company's stock, valued at approximately $1,627,468.99. This represents a 38.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Preethi Sundaram sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total value of $42,272.00. Following the sale, the insider directly owned 41,081 shares in the company, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,924 shares of company stock worth $5,879,369. Corporate insiders own 10.40% of the company's stock.

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.