Wells Fargo & Company MN Decreases Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Wells Fargo & Company MN cut its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX - Free Report) by 46.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,820 shares of the biopharmaceutical company's stock after selling 73,111 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Catalyst Pharmaceuticals worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CPRX. Rhumbline Advisers raised its holdings in Catalyst Pharmaceuticals by 0.3% during the fourth quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company's stock worth $6,518,000 after acquiring an additional 952 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Catalyst Pharmaceuticals by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company's stock worth $740,000 after buying an additional 1,000 shares during the last quarter. Xponance Inc. increased its stake in shares of Catalyst Pharmaceuticals by 6.8% in the fourth quarter. Xponance Inc. now owns 18,763 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 1,189 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth $27,000. Finally, Farther Finance Advisors LLC grew its holdings in 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 buying an additional 1,495 shares in the last quarter. Institutional investors own 79.22% of the company's stock.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX traded up $0.20 during trading hours on Thursday, reaching $24.49. The stock had a trading volume of 235,437 shares, compared to its average volume of 1,102,120. Catalyst Pharmaceuticals, Inc. has a 52-week low of $14.47 and a 52-week high of $26.16. The stock has a fifty day moving average of $22.70 and a 200 day moving average of $22.27. The stock has a market cap of $2.99 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79.

Analysts Set New Price Targets

Several analysts have recently commented on CPRX shares. Stephens reiterated an "overweight" rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Baird R W upgraded Catalyst Pharmaceuticals to a "strong-buy" rating in a report on Monday, February 3rd. StockNews.com raised Catalyst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Friday, February 28th. Bank of America reaffirmed a "buy" rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Finally, HC Wainwright reissued a "buy" rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $32.29.

Insider Transactions at Catalyst Pharmaceuticals

In related news, 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 value of $1,447,165.50. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares of the company's stock, valued at approximately $1,521,404.57. The trade was a 39.47 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.40% of the company's stock.

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.