Nuveen LLC Acquires New Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Nuveen LLC has acquired a new stake in Catalyst Pharmaceuticals, purchasing 768,012 shares valued at approximately $17.2 million, representing about 0.63% of the company.
• Insider Preethi Sundaram sold 2,324 shares at an average price of $26.41, decreasing their total ownership by 5.16% after the transaction.
• The stock has a consensus rating of “Buy” from analysts, with a target price of $33.20, despite a recent downgrade from a "strong-buy" rating by Wall Street Zen.

Nuveen LLC bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 768,012 shares of the biopharmaceutical company's stock, valued at approximately $17,185,000. Nuveen LLC owned approximately 0.63% of Catalyst Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Catalyst Pharmaceuticals by 162.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 64,395 shares of the biopharmaceutical company's stock valued at $1,344,000 after buying an additional 39,836 shares during the period. Bank of Montreal Can raised its stake in Catalyst Pharmaceuticals by 6.2% during the 4th quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company's stock worth $311,000 after acquiring an additional 875 shares during the period. Raymond James Financial Inc. purchased a new position in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $6,887,000. Canada Pension Plan Investment Board purchased a new position in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $1,244,000. Finally, MetLife Investment Management LLC boosted its position in shares of Catalyst Pharmaceuticals by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 68,087 shares of the biopharmaceutical company's stock worth $1,421,000 after purchasing an additional 4,413 shares during the period. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Preethi Sundaram sold 2,324 shares of the firm'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 completion of the transaction, the insider owned 42,681 shares of the company's stock, valued at $1,127,205.21. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.40% of the stock is currently owned by insiders.

Catalyst Pharmaceuticals Stock Performance

CPRX stock traded down $0.0690 on Monday, hitting $21.0110. 1,117,982 shares of the company's stock were exchanged, compared to its average volume of 1,309,586. The firm has a 50 day moving average price of $21.29 and a two-hundred day moving average price of $22.60. Catalyst Pharmaceuticals, Inc. has a 12-month low of $19.00 and a 12-month high of $26.58. The stock has a market cap of $2.57 billion, a P/E ratio of 12.74, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70.

Analysts Set New Price Targets

Several analysts recently issued reports on CPRX shares. Wall Street Zen cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Zacks Research lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $33.20.

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.