Catalyst Pharmaceuticals, Inc. $CPRX Shares Purchased by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its stake in Catalyst Pharmaceuticals by 17.9%, now owning approximately 244,995 shares valued at about $5.9 million.
• Institutional investors now hold 79.22% of Catalyst Pharmaceuticals' stock, indicating strong institutional interest in the company.
• Recent analyst reports have downgraded Catalyst Pharmaceuticals from a "strong-buy" to a "hold" rating, although there is still a consensus rating of "Buy" with a target price of $33.20.

Clark Capital Management Group Inc. grew its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 17.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,995 shares of the biopharmaceutical company's stock after acquiring an additional 37,262 shares during the quarter. Clark Capital Management Group Inc. owned 0.20% of Catalyst Pharmaceuticals worth $5,941,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Park Square Financial Group LLC bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $29,000. Sound Income Strategies LLC bought a new stake in shares of Catalyst Pharmaceuticals during the 1st quarter worth $64,000. 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 acquiring an additional 579 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Catalyst Pharmaceuticals by 57.2% during the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock worth $133,000 after purchasing an additional 2,002 shares during the period. Finally, US Bancorp DE boosted its position in shares of Catalyst Pharmaceuticals by 17.8% during the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company's stock valued at $178,000 after buying an additional 1,105 shares during the last quarter. Institutional investors own 79.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Finally, Zacks Research lowered Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two research 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, Catalyst Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $33.20.

Insider Transactions at Catalyst Pharmaceuticals

In other news, Director David S. Tierney sold 26,000 shares of the company's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the transaction, the director directly owned 379,620 shares of the company's stock, valued at approximately $7,668,324. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steve Miller sold 115,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total transaction of $2,332,200.00. Following the sale, the insider directly owned 949,663 shares in the company, valued at $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 have sold a total of 213,970 shares of company stock worth $4,318,241 over the last three months. Company insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX stock traded down $0.19 during trading hours on Wednesday, hitting $19.82. The stock had a trading volume of 543,615 shares, compared to its average volume of 1,335,464. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 0.81 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a one year low of $19.00 and a one year high of $26.58. The stock's 50-day moving average price is $20.80 and its two-hundred day moving average price is $22.39.

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.