Federated Hermes Inc. Has $1.81 Million Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Federated Hermes Inc. reduced its stake in Catalyst Pharmaceuticals by 57.3%, owning 74,484 shares worth approximately $1.81 million after selling 99,906 shares.
• Recent insider sales included Gary Ingenito, who sold 200,000 shares valued at over $4.7 million, and Preethi Sundaram, who sold 2,324 shares for about $61,376.
• Catalyst Pharmaceuticals received a "strong-buy" rating from Cantor Fitzgerald, with six analysts rating it as a buy and an average price target of $32.83.

Federated Hermes Inc. cut its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 57.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,484 shares of the biopharmaceutical company's stock after selling 99,906 shares during the period. Federated Hermes Inc. owned about 0.06% of Catalyst Pharmaceuticals worth $1,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mackenzie Financial Corp lifted its holdings in shares of Catalyst Pharmaceuticals by 16.7% during the 1st quarter. Mackenzie Financial Corp now owns 40,288 shares of the biopharmaceutical company's stock worth $977,000 after acquiring an additional 5,757 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in Catalyst Pharmaceuticals in the first quarter worth about $495,000. LPL Financial LLC raised its position in Catalyst Pharmaceuticals by 28.0% in the first quarter. LPL Financial LLC now owns 74,229 shares of the biopharmaceutical company's stock worth $1,800,000 after purchasing an additional 16,246 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Catalyst Pharmaceuticals by 11.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,897 shares of the biopharmaceutical company's stock worth $774,000 after purchasing an additional 3,244 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in Catalyst Pharmaceuticals by 7.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 786,900 shares of the biopharmaceutical company's stock valued at $19,082,000 after purchasing an additional 55,000 shares in the last quarter. 79.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CPRX shares. Wall Street Zen lowered Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Catalyst Pharmaceuticals presently has an average rating of "Buy" and an average target price of $32.83.

Catalyst Pharmaceuticals Trading Up 1.1%

NASDAQ CPRX traded up $0.22 during trading hours on Friday, reaching $19.86. 2,235,269 shares of the company's stock were exchanged, compared to its average volume of 1,387,106. The firm has a fifty day moving average of $22.26 and a 200-day moving average of $22.79. Catalyst Pharmaceuticals, Inc. has a one year low of $17.58 and a one year high of $26.58. The stock has a market cap of $2.42 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.70.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $23.63, for a total transaction of $1,039,720.00. Following the transaction, the insider owned 68,873 shares in the company, valued at $1,627,468.99. This represents a 38.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Preethi Sundaram sold 1,600 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the transaction, the insider directly owned 41,081 shares of the company's stock, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 247,924 shares of company stock worth $5,879,369 in the last 90 days. Company 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.