LPL Financial LLC Buys 16,246 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• LPL Financial LLC increased its position in Catalyst Pharmaceuticals by 28%, purchasing an additional 16,246 shares, bringing its total to 74,229 shares valued at approximately $1.8 million.
• Other large investors have also significantly increased their stakes, with 79.22% of the stock now owned by hedge funds and institutional investors.
• Analyst ratings for Catalyst Pharmaceuticals reveal a consensus rating of "Buy", with a current price target set at $33.20.

LPL Financial LLC boosted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 28.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,229 shares of the biopharmaceutical company's stock after purchasing an additional 16,246 shares during the quarter. LPL Financial LLC owned about 0.06% of Catalyst Pharmaceuticals worth $1,800,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRX. Park Square Financial Group LLC bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $29,000. Sound Income Strategies LLC bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter worth about $64,000. GAMMA Investing LLC grew its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 579 shares during the last quarter. Quarry LP bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter worth about $104,000. Finally, New Vernon Capital Holdings II LLC bought a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at approximately $122,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

Shares of Catalyst Pharmaceuticals stock traded down $0.0550 on Monday, reaching $21.0250. 1,055,863 shares of the company's stock were exchanged, compared to its average volume of 1,308,720. The company has a market capitalization of $2.57 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.00 and a 52 week high of $26.58. The firm's 50-day moving average is $21.29 and its two-hundred day moving average is $22.60.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPRX. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Wall Street Zen downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Zacks Research downgraded shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $33.20.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 2,324 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total transaction of $61,376.84. Following the transaction, the insider owned 42,681 shares in the company, valued at approximately $1,127,205.21. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 10.40% of the company's stock.

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.