Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stock Position Reduced by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,233,834 shares of the biopharmaceutical company's stock after selling 195,139 shares during the quarter. First Trust Advisors LP owned about 1.87% of Catalyst Pharmaceuticals worth $46,620,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CPRX. JPMorgan Chase & Co. grew its stake in Catalyst Pharmaceuticals by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company's stock worth $8,116,000 after buying an additional 33,888 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Catalyst Pharmaceuticals by 125.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 1,495 shares during the period. Allspring Global Investments Holdings LLC raised its position in Catalyst Pharmaceuticals by 13.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company's stock valued at $8,710,000 after purchasing an additional 50,888 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Catalyst Pharmaceuticals during the 4th quarter worth $1,273,000. Finally, Spire Wealth Management raised its holdings in shares of Catalyst Pharmaceuticals by 1,342.9% in the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company's stock valued at $301,000 after buying an additional 13,429 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CPRX. Robert W. Baird upped their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Baird R W raised Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. HC Wainwright reissued a "buy" rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Stephens reissued an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $32.29.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock traded up $0.39 on Tuesday, hitting $24.02. The stock had a trading volume of 157,449 shares, compared to its average volume of 1,103,153. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.47 and a 52-week high of $26.16. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.31 and a beta of 0.79. The stock's 50 day moving average is $22.60 and its 200-day moving average is $22.24.

Insider Buying and Selling at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the transaction, the insider now owns 68,873 shares of the company's stock, valued at approximately $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total value of $1,447,165.50. Following the sale, the insider now owns 188,564 shares in the company, valued at $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by corporate insiders.

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.