Cornercap Investment Counsel Inc. Lowers Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Cornercap Investment Counsel Inc. cut its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 84.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,387 shares of the biopharmaceutical company's stock after selling 73,786 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Catalyst Pharmaceuticals were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRX. BlackRock Inc. grew its position in shares of Catalyst Pharmaceuticals by 119.6% during the 3rd quarter. BlackRock Inc. now owns 15,268,931 shares of the biopharmaceutical company's stock worth $195,902,000 after buying an additional 8,317,115 shares during the period. State Street Corp increased its holdings in shares of Catalyst Pharmaceuticals by 39.0% in the third quarter. State Street Corp now owns 7,555,423 shares of the biopharmaceutical company's stock valued at $96,936,000 after purchasing an additional 2,117,944 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Catalyst Pharmaceuticals by 134.1% in the second quarter. Millennium Management LLC now owns 2,723,895 shares of the biopharmaceutical company's stock valued at $19,095,000 after purchasing an additional 1,560,086 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Catalyst Pharmaceuticals by 26.3% in the third quarter. Vanguard Group Inc. now owns 6,139,650 shares of the biopharmaceutical company's stock valued at $78,772,000 after purchasing an additional 1,277,662 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Catalyst Pharmaceuticals by 6,050.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 950,774 shares of the biopharmaceutical company's stock valued at $17,685,000 after purchasing an additional 935,316 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David S. Tierney sold 25,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $15.68, for a total value of $392,000.00. Following the completion of the sale, the director now owns 348,874 shares of the company's stock, valued at approximately $5,470,344.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CPRX has been the topic of several research reports. HC Wainwright reiterated a "buy" rating and issued a $24.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, March 1st. Cantor Fitzgerald reissued an "overweight" rating and issued a $34.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday, March 22nd. StockNews.com raised shares of Catalyst Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Thursday, March 21st. TheStreet raised shares of Catalyst Pharmaceuticals from a "c+" rating to a "b" rating in a research report on Tuesday, March 12th. Finally, Oppenheimer reissued an "outperform" rating and issued a $29.00 target price on shares of Catalyst Pharmaceuticals in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.43.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock traded down $0.66 during trading hours on Thursday, hitting $15.34. 1,493,160 shares of the company were exchanged, compared to its average volume of 1,423,779. The firm has a market cap of $1.81 billion, a P/E ratio of 26.23, a P/E/G ratio of 0.86 and a beta of 0.89. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $17.78. The company has a 50 day simple moving average of $15.34 and a two-hundred day simple moving average of $14.50.

Catalyst Pharmaceuticals (NASDAQ:CPRX - Get Free Report) last issued its earnings results on Wednesday, February 28th. The biopharmaceutical company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. Catalyst Pharmaceuticals had a return on equity of 26.56% and a net margin of 17.93%. The company had revenue of $110.57 million for the quarter, compared to analysts' expectations of $105.78 million. As a group, sell-side analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.81 EPS for the current fiscal year.

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.