JPMorgan Chase & Co. Sells 54,915 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• JPMorgan Chase sold 54,915 shares of Catalyst in Q3, reducing its stake by 12.7% to 378,807 shares (about 0.31% ownership) worth roughly $7.46 million.
• Analysts are broadly bullish, with a MarketBeat consensus of "Strong Buy" and a $34 consensus price target after recent upgrades from Citigroup, Truist and Zacks.
• Catalyst is a small-cap biopharma (market cap ≈ $2.9B) trading near $23.78 with a P/E of 14.07, a 52-week range of $19.05–$26.58, and about 79% institutional ownership.

JPMorgan Chase & Co. lowered its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 378,807 shares of the biopharmaceutical company's stock after selling 54,915 shares during the quarter. JPMorgan Chase & Co. owned 0.31% of Catalyst Pharmaceuticals worth $7,462,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CPRX. Rothschild Investment LLC increased its stake in Catalyst Pharmaceuticals by 1,085.7% in the third quarter. Rothschild Investment LLC now owns 1,660 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 1,520 shares during the last quarter. Advisory Services Network LLC bought a new stake in Catalyst Pharmaceuticals during the third quarter worth about $39,000. Quarry LP bought a new stake in Catalyst Pharmaceuticals during the third quarter worth about $40,000. Financial Life Planners purchased a new position in shares of Catalyst Pharmaceuticals in the 3rd quarter worth about $42,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Catalyst Pharmaceuticals by 331.4% in the 3rd 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. 79.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CPRX. Citigroup raised their price objective on Catalyst Pharmaceuticals from $33.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, March 3rd. Truist Financial raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Catalyst Pharmaceuticals in a research report on Friday. Finally, Zacks Research raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $34.00.

Catalyst Pharmaceuticals Stock Up 1.6%

Shares of NASDAQ CPRX opened at $23.78 on Tuesday. The firm's fifty day moving average is $24.04 and its 200 day moving average is $22.74. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.05 and a 52 week high of $26.58. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 0.68 and a beta of 0.75.

Catalyst Pharmaceuticals Company Profile

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).

Want to see what other hedge funds are holding CPRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.