Vanguard Group Inc. Increases Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Vanguard Group Inc. raised its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,046,487 shares of the biopharmaceutical company's stock after buying an additional 174,739 shares during the period. Vanguard Group Inc. owned 6.61% of Catalyst Pharmaceuticals worth $82,373,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Catalyst Pharmaceuticals by 24.2% in the second quarter. FMR LLC now owns 4,218 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 822 shares in the last quarter. Advisory Services Network LLC boosted its position in Catalyst Pharmaceuticals by 260.2% in the first quarter. Advisory Services Network LLC now owns 1,801 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 1,301 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Catalyst Pharmaceuticals by 768.0% during the first quarter. Covestor Ltd now owns 4,878 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 4,316 shares during the period. VisionPoint Advisory Group LLC acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter worth $43,000. Finally, Quantbot Technologies LP acquired a new position in shares of Catalyst Pharmaceuticals during the first quarter worth $62,000. Institutional investors and hedge funds own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Up 0.3 %

CPRX traded up $0.05 during midday trading on Friday, hitting $15.17. The company had a trading volume of 823,527 shares, compared to its average volume of 1,180,792. Catalyst Pharmaceuticals, Inc. has a 52 week low of $11.09 and a 52 week high of $18.22. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 0.92 and a beta of 0.89. The stock's 50 day moving average price is $15.08 and its 200 day moving average price is $14.30.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. Catalyst Pharmaceuticals had a net margin of 17.93% and a return on equity of 26.56%. The firm had revenue of $110.57 million during the quarter, compared to the consensus estimate of $105.78 million. Research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $34.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, March 22nd. Oppenheimer reiterated an "outperform" rating and set a $29.00 price target on shares of Catalyst Pharmaceuticals in a report on Wednesday, March 27th. Citigroup assumed coverage on shares of Catalyst Pharmaceuticals in a report on Thursday, March 14th. They set a "buy" rating and a $27.00 price target on the stock. TheStreet upgraded shares of Catalyst Pharmaceuticals from a "c+" rating to a "b" rating in a report on Tuesday, March 12th. Finally, Bank of America initiated coverage on shares of Catalyst Pharmaceuticals in a research note on Thursday, March 7th. They set a "buy" rating and a $23.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.43.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Brian Elsbernd sold 25,000 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $16.44, for a total transaction of $411,000.00. Following the completion of the sale, the insider now directly owns 124,433 shares of the company's stock, valued at $2,045,678.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 12.10% of the company's stock.

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.