Catalyst Pharmaceuticals, Inc. $CPRX Shares Sold by BI Asset Management Fondsmaeglerselskab A S

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

A number of other large investors also recently bought and sold shares of CPRX. Envestnet Asset Management Inc. lifted its holdings in Catalyst Pharmaceuticals by 162.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 64,395 shares of the biopharmaceutical company's stock worth $1,344,000 after buying an additional 39,836 shares during the last quarter. MetLife Investment Management LLC grew its stake in 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 buying an additional 4,413 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Catalyst Pharmaceuticals by 242.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 26,491 shares of the biopharmaceutical company's stock worth $553,000 after buying an additional 18,759 shares during the last quarter. State of Tennessee Department of Treasury increased its position 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 worth $1,056,000 after buying an additional 2,193 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Catalyst Pharmaceuticals by 64.7% in the fourth quarter. Hsbc Holdings PLC now owns 36,337 shares of the biopharmaceutical company's stock valued at $764,000 after buying an additional 14,269 shares during the last quarter. Institutional investors own 79.22% of the company's stock.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 1,600 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the sale, the insider owned 41,081 shares of the company's stock, valued at $1,085,360.02. The trade was a 3.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steve Miller sold 115,000 shares of Catalyst Pharmaceuticals stock in a transaction 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 transaction, the insider owned 949,663 shares in the company, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 167,894 shares of company stock worth $3,434,690 over the last 90 days. Insiders own 10.40% of the company's stock.

Wall Street Analyst Weigh In

CPRX has been the topic of a number of recent research reports. Wall Street Zen cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $33.20.

Catalyst Pharmaceuticals Stock Up 0.5%

Catalyst Pharmaceuticals stock traded up $0.11 during mid-day trading on Friday, hitting $20.49. 124,482 shares of the company's stock traded hands, compared to its average volume of 1,306,630. The firm has a 50 day moving average price of $21.06 and a 200 day moving average price of $22.53. The company has a market cap of $2.51 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.82 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a one year low of $19.00 and a one year high of $26.58.

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.