LPL Financial LLC Increases Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

LPL Financial LLC raised its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,983 shares of the biopharmaceutical company's stock after acquiring an additional 15,961 shares during the period. LPL Financial LLC's holdings in Catalyst Pharmaceuticals were worth $1,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Catalyst Pharmaceuticals by 9.1% in the third quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company's stock worth $8,116,000 after acquiring an additional 33,888 shares during the period. 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 worth $56,000 after purchasing an additional 1,495 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Catalyst Pharmaceuticals by 13.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company's stock worth $8,710,000 after purchasing an additional 50,888 shares during the period. Wellington Management Group LLP purchased a new position in Catalyst Pharmaceuticals during the third quarter worth about $1,185,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $1,273,000. Institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Price Performance

CPRX stock traded up $0.58 during midday trading on Wednesday, reaching $23.18. The company had a trading volume of 79,321 shares, compared to its average volume of 1,106,834. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $26.16. The company has a market capitalization of $2.83 billion, a P/E ratio of 19.64, a P/E/G ratio of 3.31 and a beta of 0.79. The firm has a 50-day moving average price of $22.58 and a 200-day moving average price of $22.13.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Robert W. Baird lifted their price objective on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Baird R W raised shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a research report on Monday, February 3rd. StockNews.com raised shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Seven equities research 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 presently has an average rating of "Buy" and an average price target of $32.29.

Insider Activity

In other news, insider Gary Ingenito sold 44,904 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Elsbernd sold 62,975 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the completion of the sale, the insider now directly owns 188,564 shares of the company's stock, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their position. The disclosure for this sale can be found here. 10.40% of the stock is owned by corporate insiders.

Catalyst Pharmaceuticals Company 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.