Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 67.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,234 shares of the biopharmaceutical company's stock after selling 320,168 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Catalyst Pharmaceuticals worth $2,609,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. increased its stake in Catalyst Pharmaceuticals by 3.2% in the 2nd quarter. BlackRock Inc. now owns 15,851,862 shares of the biopharmaceutical company's stock valued at $213,049,000 after purchasing an additional 491,552 shares in the last quarter. State Street Corp increased its stake in Catalyst Pharmaceuticals by 25.3% in the 2nd quarter. State Street Corp now owns 9,453,077 shares of the biopharmaceutical company's stock valued at $127,049,000 after purchasing an additional 1,910,359 shares in the last quarter. Vanguard Group Inc. increased its stake in Catalyst Pharmaceuticals by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,046,487 shares of the biopharmaceutical company's stock valued at $82,373,000 after purchasing an additional 174,739 shares in the last quarter. Millennium Management LLC increased its stake in Catalyst Pharmaceuticals by 134.1% in the 2nd 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Catalyst Pharmaceuticals by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,374,508 shares of the biopharmaceutical company's stock valued at $39,369,000 after purchasing an additional 65,803 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Catalyst Pharmaceuticals

In other news, Director David S. Tierney sold 25,000 shares of the firm's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $15.68, for a total transaction of $392,000.00. Following the sale, the director now owns 348,874 shares in the company, valued at $5,470,344.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CPRX. Oppenheimer reaffirmed an "outperform" rating and issued a $29.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Wednesday, March 27th. Bank of America assumed coverage on Catalyst Pharmaceuticals in a report on Thursday, March 7th. They set a "buy" rating and a $23.00 target price on the stock. HC Wainwright reiterated a "buy" rating and set a $24.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, March 1st. TheStreet upgraded Catalyst Pharmaceuticals from a "c+" rating to a "b" rating in a report on Tuesday, March 12th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $34.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, March 22nd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Catalyst Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $26.43.

Catalyst Pharmaceuticals Stock Down 1.4 %

Shares of CPRX stock traded down $0.21 during mid-day trading on Friday, hitting $15.13. 7,422,178 shares of the company's stock were exchanged, compared to its average volume of 986,173. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $17.76. The stock has a 50-day simple moving average of $15.41 and a two-hundred day simple moving average of $14.57. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 0.83 and a beta of 0.89.

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