Redhawk Wealth Advisors Inc. Acquires 13,407 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Redhawk Wealth Advisors Inc. increased its holdings in Catalyst Pharmaceuticals, Inc. by 24.7% in Q2, acquiring a total of 67,778 shares valued at approximately $1.47 million.
• Multiple institutional investors, including Vanguard and Goldman Sachs, have also raised their stakes in Catalyst Pharmaceuticals, with institutional ownership now at 79.22%.
• Analysts maintain a consensus “Buy” rating for the stock, with a current average price target of $33.20.

Redhawk Wealth Advisors Inc. grew its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 24.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,778 shares of the biopharmaceutical company's stock after buying an additional 13,407 shares during the period. Redhawk Wealth Advisors Inc. owned approximately 0.06% of Catalyst Pharmaceuticals worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Catalyst Pharmaceuticals in the 2nd quarter valued at $206,000. Lifestyle Asset Management Inc. bought a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $270,000. Wesbanco Bank Inc. increased its position in Catalyst Pharmaceuticals by 194.7% in the second quarter. Wesbanco Bank Inc. now owns 56,000 shares of the biopharmaceutical company's stock worth $1,215,000 after buying an additional 37,000 shares during the last quarter. Swedbank AB bought a new stake in Catalyst Pharmaceuticals during the first quarter valued at $14,941,000. Finally, Voya Investment Management LLC lifted its stake in shares of Catalyst Pharmaceuticals by 17.7% in the 1st quarter. Voya Investment Management LLC now owns 61,682 shares of the biopharmaceutical company's stock valued at $1,496,000 after acquiring an additional 9,266 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CPRX. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Zacks Research downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $33.20.

Catalyst Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:CPRX traded up $0.27 on Monday, reaching $20.05. 1,508,469 shares of the company's stock were exchanged, compared to its average volume of 1,651,455. The business's 50-day moving average is $20.53 and its two-hundred day moving average is $22.29. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.80 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.15 and a fifty-two week high of $26.58.

Insider Activity at Catalyst Pharmaceuticals

In other news, Director David S. Tierney sold 26,000 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total value of $525,200.00. Following the completion of the sale, the director owned 379,620 shares of the company's stock, valued at approximately $7,668,324. This represents a 6.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Daly sold 22,970 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total value of $473,641.40. Following the sale, the chief executive officer directly owned 226,794 shares in the company, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 243,970 shares of company stock worth $4,927,241. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals 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.