Raymond James Financial Inc. Acquires New Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Raymond James Financial Inc. purchased a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 329,980 shares of the biopharmaceutical company's stock, valued at approximately $6,887,000. Raymond James Financial Inc. owned approximately 0.28% of Catalyst Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in Catalyst Pharmaceuticals in the fourth quarter valued at $27,000. Farther Finance Advisors LLC boosted its position in Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company's stock valued at $56,000 after buying an additional 1,495 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Catalyst Pharmaceuticals during the fourth quarter worth $65,000. KBC Group NV lifted its holdings in shares of Catalyst Pharmaceuticals by 48.8% during the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company's stock worth $98,000 after purchasing an additional 1,542 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Catalyst Pharmaceuticals during the 4th quarter valued at about $134,000. Institutional investors own 79.22% of the company's stock.

Insiders Place Their Bets

In related news, insider Brian Elsbernd sold 62,975 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. The trade was a 25.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gary Ingenito sold 44,904 shares of the business's stock in a transaction on 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 in the company, valued at approximately $1,521,404.57. This trade represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock traded up $0.11 during trading hours on Tuesday, hitting $23.74. The company had a trading volume of 77,594 shares, compared to its average volume of 1,102,879. The company has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $22.24. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $26.16. The firm has a market cap of $2.90 billion, a P/E ratio of 20.12, a P/E/G ratio of 3.31 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CPRX shares. Bank of America reiterated a "buy" rating and issued a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Robert W. Baird lifted 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. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target 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.