Wesbanco Bank Inc. Has $1.22 Million Stock Position in Catalyst Pharmaceuticals, Inc. $CPRX

Key Points

• Wesbanco Bank Inc. increased its stake in Catalyst Pharmaceuticals by 194.7%, owning 56,000 shares worth approximately $1.22 million as of the last reporting period.
• Insider selling has occurred, with CEO Richard J. Daly selling 22,970 shares and another insider selling 115,000 shares, indicating a trend among company executives to liquidate portions of their holdings.
• Several analysts have revised their ratings on Catalyst Pharmaceuticals, with Zacks Research downgrading it to a "hold" while Cantor Fitzgerald upgraded it to a "strong-buy," reflecting mixed sentiments in the market.

Wesbanco Bank Inc. lifted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 194.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,000 shares of the biopharmaceutical company's stock after acquiring an additional 37,000 shares during the period. Wesbanco Bank Inc.'s holdings in Catalyst Pharmaceuticals were worth $1,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CPRX. Park Square Financial Group LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter worth $29,000. Sound Income Strategies LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the first quarter worth $64,000. GAMMA Investing LLC lifted its position in Catalyst Pharmaceuticals by 26.2% in the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 579 shares during the period. PNC Financial Services Group Inc. lifted its position in Catalyst Pharmaceuticals by 57.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company's stock worth $133,000 after purchasing an additional 2,002 shares during the period. Finally, US Bancorp DE lifted its position in Catalyst Pharmaceuticals by 17.8% in the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company's stock worth $178,000 after purchasing an additional 1,105 shares during the period. Institutional investors and hedge funds own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock opened at $19.76 on Tuesday. The stock's fifty day moving average is $20.68 and its 200-day moving average is $22.36. The stock has a market capitalization of $2.42 billion, a PE ratio of 11.98, a PEG ratio of 0.80 and a beta of 0.85. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.15 and a 52 week high of $26.58.

Insiders Place Their Bets

In other news, CEO Richard J. Daly sold 22,970 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the transaction, the chief executive officer owned 226,794 shares of the company's stock, valued at $4,676,492.28. This represents a 9.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steve Miller sold 115,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.28, for a total value of $2,332,200.00. Following the transaction, the insider directly owned 949,663 shares in the company, valued at $19,259,165.64. This trade represents a 10.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,970 shares of company stock worth $4,927,241 over the last ninety days. Company insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Zacks Research cut Catalyst Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Wall Street Zen cut Catalyst Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Cantor Fitzgerald raised Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target 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.

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