Sheaff Brock Investment Advisors LLC Takes Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Key Points

• Sheaff Brock Investment Advisors LLC acquired a new stake in Catalyst Pharmaceuticals, purchasing 20,405 shares valued at approximately $495,000.
• Insider trading activity included the sale of shares by Preethi Sundaram and Gary Ingenito, with significant decreases in their positions post-sale.
• Catalyst Pharmaceuticals received an upgrade to a "strong-buy" rating from Cantor Fitzgerald, with six analysts recommending a buy and an average price target of $32.83.

Sheaff Brock Investment Advisors LLC bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,405 shares of the biopharmaceutical company's stock, valued at approximately $495,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at approximately $484,000. Principal Financial Group Inc. raised its stake in Catalyst Pharmaceuticals by 2.8% during the first quarter. Principal Financial Group Inc. now owns 617,506 shares of the biopharmaceutical company's stock valued at $14,975,000 after buying an additional 17,018 shares during the last quarter. Spire Wealth Management raised its stake in Catalyst Pharmaceuticals by 27.7% during the first quarter. Spire Wealth Management now owns 18,429 shares of the biopharmaceutical company's stock valued at $447,000 after buying an additional 4,000 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Catalyst Pharmaceuticals by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 31,655 shares of the biopharmaceutical company's stock valued at $661,000 after buying an additional 4,996 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Catalyst Pharmaceuticals by 65.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,334 shares of the biopharmaceutical company's stock valued at $857,000 after buying an additional 13,915 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Trading Down 0.8%

Catalyst Pharmaceuticals stock opened at $20.80 on Tuesday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 0.85 and a beta of 0.66. The stock has a fifty day simple moving average of $22.88 and a two-hundred day simple moving average of $22.89. Catalyst Pharmaceuticals, Inc. has a 12 month low of $15.34 and a 12 month high of $26.58.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 1,600 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total value of $42,272.00. Following the completion of the sale, the insider owned 41,081 shares of the company's stock, valued at approximately $1,085,360.02. This trade represents a 3.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary Ingenito sold 44,000 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $23.63, for a total value of $1,039,720.00. Following the completion of the sale, the insider directly owned 68,873 shares of the company's stock, valued at approximately $1,627,468.99. The trade was a 38.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 247,924 shares of company stock valued at $5,879,369. Corporate insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $32.83.

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.

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