Lazard Asset Management LLC Raises Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Lazard Asset Management LLC grew its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 58.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,343 shares of the biopharmaceutical company's stock after buying an additional 46,318 shares during the period. Lazard Asset Management LLC owned 0.11% of Catalyst Pharmaceuticals worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its position in shares of Catalyst Pharmaceuticals by 125.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 1,495 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $65,000. KBC Group NV raised its position in shares of Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock valued at $98,000 after buying an additional 1,542 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Catalyst Pharmaceuticals during the fourth quarter valued at approximately $104,000. Institutional investors own 79.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CPRX shares. Robert W. Baird lifted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Stephens restated an "overweight" rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Finally, Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $32.29.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares of the company's stock, valued at $1,521,404.57. The trade was a 39.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of Catalyst Pharmaceuticals stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company's stock, valued at $4,333,200.72. The trade was a 25.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,879 shares of company stock valued at $8,214,815 over the last three months. 10.40% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX traded down $0.37 on Thursday, hitting $23.95. 139,365 shares of the stock were exchanged, compared to its average volume of 1,102,584. The stock has a fifty day moving average price of $23.44 and a two-hundred day moving average price of $22.52. The firm has a market capitalization of $2.92 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.31 and a beta of 0.70. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.75 and a 52-week high of $26.16.

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.