Moran Wealth Management LLC Acquires 21,135 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Moran Wealth Management LLC increased its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 209.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,210 shares of the biopharmaceutical company's stock after purchasing an additional 21,135 shares during the quarter. Moran Wealth Management LLC's holdings in Catalyst Pharmaceuticals were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Retirement Guys Formula LLC purchased a new position in Catalyst Pharmaceuticals in the 1st quarter worth $231,000. Cambridge Investment Research Advisors Inc. purchased a new position in Catalyst Pharmaceuticals in the 1st quarter worth $484,000. Nilsine Partners LLC raised its position in Catalyst Pharmaceuticals by 64.8% in the 1st quarter. Nilsine Partners LLC now owns 55,249 shares of the biopharmaceutical company's stock worth $1,340,000 after purchasing an additional 21,730 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in Catalyst Pharmaceuticals in the 1st quarter worth $211,000. Finally, CWA Asset Management Group LLC raised its position in Catalyst Pharmaceuticals by 30.8% in the 1st quarter. CWA Asset Management Group LLC now owns 44,081 shares of the biopharmaceutical company's stock worth $1,069,000 after purchasing an additional 10,383 shares during the period. Hedge funds and other institutional investors own 79.22% of the company's stock.

Insider Activity

In other news, insider Gary Ingenito sold 200,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $23.68, for a total transaction of $4,736,000.00. Following the sale, the insider now owns 68,873 shares of the company's stock, valued at approximately $1,630,912.64. The trade was a 74.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Preethi Sundaram sold 2,324 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $26.41, for a total transaction of $61,376.84. Following the sale, the insider now directly owns 42,681 shares in the company, valued at $1,127,205.21. The trade was a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,924 shares of company stock valued at $5,879,369. Corporate insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Down 0.5%

Shares of CPRX traded down $0.11 during trading hours on Friday, reaching $21.78. 2,414,054 shares of the company traded hands, compared to its average volume of 1,111,690. The company's fifty day moving average price is $23.88 and its two-hundred day moving average price is $22.89. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. Catalyst Pharmaceuticals, Inc. has a 12 month low of $14.96 and a 12 month high of $26.58.

Analyst Ratings Changes

A number of research firms have issued reports on CPRX. HC Wainwright restated a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Robert W. Baird boosted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Stephens restated an "overweight" rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Finally, Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $32.83.

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.