Norges Bank Makes New $1.92 Million Investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Norges Bank bought a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 91,770 shares of the biopharmaceutical company's stock, valued at approximately $1,915,000. Norges Bank owned about 0.08% of Catalyst Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter worth about $27,000. Farther Finance Advisors LLC boosted its holdings 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. Wilmington Savings Fund Society FSB bought a new position in Catalyst Pharmaceuticals during the fourth quarter valued at approximately $65,000. KBC Group NV raised its stake in shares of Catalyst Pharmaceuticals by 48.8% in the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock valued at $98,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Catalyst Pharmaceuticals in the fourth quarter valued at about $134,000. Institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ CPRX traded up $0.29 during mid-day trading on Thursday, reaching $22.48. 154,551 shares of the company were exchanged, compared to its average volume of 1,138,637. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16. The company's 50 day moving average price is $22.61 and its 200 day moving average price is $22.05. The stock has a market capitalization of $2.73 billion, a PE ratio of 19.12, a PEG ratio of 3.31 and a beta of 0.79.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 44,904 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the business'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 sale, the insider now directly owns 188,564 shares of the company's stock, valued at approximately $4,333,200.72. The trade was a 25.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company's stock.

Wall Street Analysts Forecast Growth

CPRX has been the subject of several analyst reports. Bank of America restated a "buy" rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. Robert W. Baird increased their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. HC Wainwright reaffirmed a "buy" rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Finally, StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Friday, February 28th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Catalyst Pharmaceuticals has an average rating of "Buy" and an average target price of $32.29.

Catalyst Pharmaceuticals 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.