Catalyst Pharmaceuticals, Inc. $CPRX Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott cut its stake in Catalyst Pharmaceuticals by 62.6% in the first quarter, selling 45,385 shares and leaving it with 27,072 shares worth about $670,000.
• Several other institutional investors increased their positions, and hedge funds now own 79.22% of the company, highlighting continued institutional interest in CPRX.
• Analysts currently have a Moderate Buy consensus on the stock with a $32.00 target price, while CPRX recently traded near $31.49, close to its 52-week high of $32.56.

Janney Montgomery Scott LLC decreased its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 62.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,072 shares of the biopharmaceutical company's stock after selling 45,385 shares during the period. Janney Montgomery Scott LLC's holdings in Catalyst Pharmaceuticals were worth $670,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its stake in Catalyst Pharmaceuticals by 39.1% during the 1st quarter. Royal Bank of Canada now owns 213,469 shares of the biopharmaceutical company's stock valued at $5,177,000 after acquiring an additional 60,040 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Catalyst Pharmaceuticals by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,052 shares of the biopharmaceutical company's stock valued at $1,749,000 after purchasing an additional 3,800 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 11.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company's stock valued at $76,035,000 after purchasing an additional 333,100 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Catalyst Pharmaceuticals by 99.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 526,297 shares of the biopharmaceutical company's stock valued at $12,763,000 after purchasing an additional 262,392 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Catalyst Pharmaceuticals by 6.5% during the first quarter. Intech Investment Management LLC now owns 70,087 shares of the biopharmaceutical company's stock worth $1,700,000 after purchasing an additional 4,261 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

Catalyst Pharmaceuticals Price Performance

CPRX opened at $31.49 on Wednesday. Catalyst Pharmaceuticals, Inc. has a 1-year low of $19.05 and a 1-year high of $32.56. The stock has a market cap of $3.86 billion, a P/E ratio of 18.10, a P/E/G ratio of 0.96 and a beta of 0.74. The stock's 50 day simple moving average is $31.32 and its 200 day simple moving average is $26.88.

Analysts Set New Price Targets

CPRX has been the topic of a number of analyst reports. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Friday, March 27th. Truist Financial upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, March 25th. Zacks Research downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Robert W. Baird lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company's mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company's lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).

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