26,478 Shares in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Bought by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC has acquired a new position in Catalyst Pharmaceuticals, buying 26,478 shares valued at approximately $642,000 during the first quarter.
• Insiders at Catalyst Pharmaceuticals have sold significant shares recently, totaling 247,924 shares valued at $5.88 million in the last ninety days.
• Analyst ratings for Catalyst Pharmaceuticals vary, with Cantor Fitzgerald upgrading the stock to a "strong-buy" while Wall Street Zen downgraded it to a "hold."

Sierra Summit Advisors LLC acquired a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 26,478 shares of the biopharmaceutical company's stock, valued at approximately $642,000.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its position in Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock valued at $68,000 after acquiring an additional 579 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Catalyst Pharmaceuticals by 5.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,696 shares of the biopharmaceutical company's stock valued at $244,000 after acquiring an additional 580 shares during the last quarter. Hohimer Wealth Management LLC increased its position in Catalyst Pharmaceuticals by 3.6% during the first quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company's stock valued at $438,000 after acquiring an additional 629 shares during the last quarter. Vestcor Inc increased its position in Catalyst Pharmaceuticals by 3.0% during the first quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company's stock valued at $696,000 after acquiring an additional 840 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Catalyst Pharmaceuticals by 6.2% in the fourth quarter. Bank of Montreal Can now owns 14,879 shares of the biopharmaceutical company's stock worth $311,000 after purchasing an additional 875 shares during the last quarter. Institutional investors own 79.22% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CPRX shares. Cantor Fitzgerald upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Wall Street Zen lowered shares of Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $33.20.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Preethi Sundaram sold 1,600 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $26.42, for a total transaction of $42,272.00. Following the completion of the sale, the insider directly owned 41,081 shares of the company's stock, valued at approximately $1,085,360.02. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.40% of the company's stock.

Catalyst Pharmaceuticals Stock Up 0.1%

NASDAQ:CPRX traded up $0.03 during mid-day trading on Wednesday, reaching $20.37. The company's stock had a trading volume of 457,078 shares, compared to its average volume of 1,311,791. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.00 and a 1 year high of $26.58. The stock has a fifty day moving average of $22.07 and a 200-day moving average of $22.75. The firm has a market capitalization of $2.49 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.70.

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.