Gallacher Capital Management LLC Takes $393,000 Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Gallacher Capital Management LLC acquired a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,223 shares of the biopharmaceutical company's stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRX. GAMMA Investing LLC boosted its stake in Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after buying an additional 579 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in Catalyst Pharmaceuticals by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company's stock worth $244,000 after buying an additional 580 shares in the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Catalyst Pharmaceuticals by 3.6% during the first quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company's stock valued at $438,000 after purchasing an additional 629 shares during the period. Bank of Montreal Can grew its holdings in shares of Catalyst Pharmaceuticals by 6.2% in the fourth quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company's stock worth $311,000 after purchasing an additional 875 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Catalyst Pharmaceuticals by 1.6% in the first quarter. Illinois Municipal Retirement Fund now owns 60,638 shares of the biopharmaceutical company's stock worth $1,470,000 after buying an additional 929 shares during the period. Hedge funds and other institutional investors own 79.22% of the company's stock.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Preethi Sundaram sold 1,600 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total value of $42,272.00. Following the sale, the insider owned 41,081 shares in the company, valued at $1,085,360.02. The trade was a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $1,039,720.00. Following the completion of the sale, the insider owned 68,873 shares in the company, valued at approximately $1,627,468.99. This trade represents a 38.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 247,924 shares of company stock worth $5,879,369. 10.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Six research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $32.83.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX traded down $0.24 during trading hours on Friday, hitting $20.78. The company had a trading volume of 253,392 shares, compared to its average volume of 1,286,178. The company has a market capitalization of $2.53 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.88 and a beta of 0.66. The stock has a 50-day moving average price of $23.03 and a 200 day moving average price of $22.88. Catalyst Pharmaceuticals, Inc. has a 52 week low of $15.34 and a 52 week high of $26.58.

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.