Intech Investment Management LLC Sells 46,656 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Intech Investment Management LLC cut its stake in Catalyst Pharmaceuticals by 46.2%, selling 46,656 shares and finishing the quarter with 54,413 shares valued at about $1.07 million.
• Director Molly Harper sold 26,746 shares (a 91.9% reduction), leaving her with 2,360 shares; insiders now own 10.4% of the stock while institutional investors hold 79.22%.
• Analysts have largely upgraded CPRX to a consensus Buy with a $34 price target; the stock trades around $24.24 with a market cap near $2.96 billion and a P/E of 14.34.

Intech Investment Management LLC reduced its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 46.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,413 shares of the biopharmaceutical company's stock after selling 46,656 shares during the period. Intech Investment Management LLC's holdings in Catalyst Pharmaceuticals were worth $1,072,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank lifted its holdings in Catalyst Pharmaceuticals by 105.0% during the second quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 734 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Catalyst Pharmaceuticals by 1,085.7% in the third quarter. Rothschild Investment LLC now owns 1,660 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 1,520 shares during the period. Bessemer Group Inc. increased its stake in shares of Catalyst Pharmaceuticals by 331.4% in the third quarter. Bessemer Group Inc. now owns 3,486 shares of the biopharmaceutical company's stock worth $69,000 after purchasing an additional 2,678 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Catalyst Pharmaceuticals by 14.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,061 shares of the biopharmaceutical company's stock valued at $79,000 after purchasing an additional 498 shares during the period. Finally, Dakota Community Bank & Trust NA bought a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at $81,000. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $24.24 on Friday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.72 and a beta of 0.75. The firm has a fifty day moving average price of $23.85 and a 200 day moving average price of $22.36. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Sunday, November 16th. Zacks Research upgraded Catalyst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 3rd. Citigroup upped their price objective on Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $34.00.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $23.25, for a total transaction of $621,844.50. Following the completion of the transaction, the director owned 2,360 shares of the company's stock, valued at $54,870. This represents a 91.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is currently owned by insiders.

About Catalyst Pharmaceuticals

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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