BI Asset Management Fondsmaeglerselskab A S Sells 102,510 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Catalyst Pharmaceuticals by 87.8%, selling 102,510 shares in the first quarter, leaving them with 14,248 shares valued at $346,000.
• Analysts have shown mixed sentiments towards Catalyst Pharmaceuticals, with Zacks Research and Wall Street Zen both downgrading the stock to a "hold" rating, while Cantor Fitzgerald upgraded it to a "strong-buy" rating.
• The stock currently has an average rating of "Buy" with a consensus price target of $33.20, as it trades near its 52-week range between $19.00 and $26.58.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 87.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,248 shares of the biopharmaceutical company's stock after selling 102,510 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Catalyst Pharmaceuticals were worth $346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Catalyst Pharmaceuticals by 162.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 64,395 shares of the biopharmaceutical company's stock valued at $1,344,000 after buying an additional 39,836 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Catalyst Pharmaceuticals by 6.9% during the 4th quarter. MetLife Investment Management LLC now owns 68,087 shares of the biopharmaceutical company's stock worth $1,421,000 after acquiring an additional 4,413 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Catalyst Pharmaceuticals by 242.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,491 shares of the biopharmaceutical company's stock valued at $553,000 after acquiring an additional 18,759 shares during the last quarter. State of Tennessee Department of Treasury boosted its stake in Catalyst Pharmaceuticals by 4.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 50,587 shares of the biopharmaceutical company's stock valued at $1,056,000 after acquiring an additional 2,193 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Catalyst Pharmaceuticals by 64.7% in the 4th quarter. Hsbc Holdings PLC now owns 36,337 shares of the biopharmaceutical company's stock worth $764,000 after purchasing an additional 14,269 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on CPRX shares. Zacks Research cut shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $33.20.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 2,324 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $26.41, for a total value of $61,376.84. Following the completion of the transaction, the insider directly owned 42,681 shares of the company's stock, valued at approximately $1,127,205.21. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX opened at $21.08 on Friday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 12.78, a PEG ratio of 0.86 and a beta of 0.70. The stock has a 50-day simple moving average of $21.29 and a two-hundred day simple moving average of $22.60. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.00 and a fifty-two week high of $26.58.

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.

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