Cetera Investment Advisers Purchases 15,066 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Cetera Investment Advisers increased its stake in Catalyst Pharmaceuticals by 34.9%, owning 58,180 shares now valued at approximately $1.41 million.
• Analyst ratings for Catalyst Pharmaceuticals show mixed sentiments, with one firm downgrading to a "hold" and others maintaining or upgrading to "strong-buy," resulting in an average target price of $33.20.
• Insider trading activity includes significant sales, with insiders reportedly selling 247,924 shares worth nearly $5.88 million over the past 90 days.

Cetera Investment Advisers increased its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 34.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,180 shares of the biopharmaceutical company's stock after purchasing an additional 15,066 shares during the period. Cetera Investment Advisers' holdings in Catalyst Pharmaceuticals were worth $1,411,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $29,000. Sound Income Strategies LLC bought a new position in shares of Catalyst Pharmaceuticals in the first quarter valued at approximately $64,000. GAMMA Investing LLC lifted its holdings in shares of Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock valued at $68,000 after purchasing an additional 579 shares in the last quarter. Quarry LP bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $104,000. Finally, New Vernon Capital Holdings II LLC bought a new position in shares of Catalyst Pharmaceuticals in the fourth quarter valued at approximately $122,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen lowered Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Saturday. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $33.20.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Ingenito sold 44,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total value of $1,039,720.00. Following the sale, the insider directly owned 68,873 shares of the company's stock, valued at $1,627,468.99. This represents a 38.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,924 shares of company stock valued at $1,143,369. 10.40% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Trading Up 3.4%

Shares of NASDAQ CPRX traded up $0.66 during mid-day trading on Tuesday, hitting $20.34. The company had a trading volume of 1,136,000 shares, compared to its average volume of 1,467,570. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.80 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.00 and a 1 year high of $26.58. The stock's 50-day moving average price is $22.07 and its 200-day moving average price is $22.75.

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.