Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stock Position Decreased by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Catalyst Pharmaceuticals, Inc. by 9.4%, owning 703,802 shares worth approximately $17.07 million after selling 73,322 shares.
• Institutional investors and hedge funds own 79.22% of the company's stock, indicating significant institutional interest in Catalyst Pharmaceuticals.
• Cantor Fitzgerald upgraded the stock to a "strong-buy" rating, contributing to an average target price of $32.83 per share among analysts.

LSV Asset Management lowered its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 703,802 shares of the biopharmaceutical company's stock after selling 73,322 shares during the quarter. LSV Asset Management owned about 0.58% of Catalyst Pharmaceuticals worth $17,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Catalyst Pharmaceuticals by 18.3% during the 4th quarter. American Century Companies Inc. now owns 157,409 shares of the biopharmaceutical company's stock worth $3,285,000 after purchasing an additional 24,395 shares during the period. LPL Financial LLC raised its position in shares of Catalyst Pharmaceuticals by 38.0% during the 4th quarter. LPL Financial LLC now owns 57,983 shares of the biopharmaceutical company's stock worth $1,210,000 after purchasing an additional 15,961 shares during the period. Vanguard Group Inc. raised its position in shares of Catalyst Pharmaceuticals by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company's stock worth $175,957,000 after purchasing an additional 390,116 shares during the period. JPMorgan Chase & Co. raised its position in shares of Catalyst Pharmaceuticals by 80.3% during the 4th quarter. JPMorgan Chase & Co. now owns 736,197 shares of the biopharmaceutical company's stock worth $15,364,000 after purchasing an additional 327,936 shares during the period. Finally, Norges Bank acquired a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter worth approximately $1,915,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Analyst Ratings Changes

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

Catalyst Pharmaceuticals Stock Down 0.4%

NASDAQ CPRX traded down $0.09 on Friday, reaching $19.55. 1,470,928 shares of the stock traded hands, compared to its average volume of 1,308,491. The firm's fifty day simple moving average is $22.36 and its 200 day simple moving average is $22.81. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 0.89 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a 12 month low of $17.58 and a 12 month high of $26.58.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 200,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following the completion of the transaction, the insider directly owned 68,873 shares of the company's stock, valued at approximately $1,630,912.64. This trade represents a 74.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Preethi Sundaram sold 2,324 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total value of $61,376.84. Following the transaction, the insider directly owned 42,681 shares of the company's stock, valued at approximately $1,127,205.21. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,924 shares of company stock valued at $5,879,369. 10.40% of the stock is currently owned by corporate insiders.

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.