Martingale Asset Management L P Invests $1.73 Million in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Martingale Asset Management L P purchased a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 87,077 shares of the biopharmaceutical company’s stock, valued at approximately $1,731,000.

A number of other hedge funds also recently added to or reduced their stakes in CPRX. California State Teachers Retirement System raised its position in Catalyst Pharmaceuticals by 4.3% in the 1st quarter. California State Teachers Retirement System now owns 106,357 shares of the biopharmaceutical company’s stock worth $1,695,000 after buying an additional 4,346 shares during the last quarter. Comerica Bank raised its holdings in shares of Catalyst Pharmaceuticals by 9.4% during the first quarter. Comerica Bank now owns 51,157 shares of the biopharmaceutical company’s stock valued at $815,000 after purchasing an additional 4,377 shares during the last quarter. Virtu Financial LLC bought a new position in Catalyst Pharmaceuticals during the first quarter valued at approximately $191,000. Cetera Advisors LLC purchased a new stake in Catalyst Pharmaceuticals in the first quarter worth approximately $401,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in Catalyst Pharmaceuticals in the 1st quarter worth approximately $2,764,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, insider Gary Ingenito sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the completion of the transaction, the insider now directly owns 51,391 shares in the company, valued at $1,167,603.52. This represents a 18.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Molly Harper sold 17,500 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $22.00, for a total transaction of $385,000.00. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CPRX. Truist Financial raised their price target on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Citigroup increased their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Finally, Stephens assumed coverage on shares of Catalyst Pharmaceuticals in a research note on Monday, November 18th. They set an “overweight” rating and a $35.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $31.14.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX opened at $22.07 on Monday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $13.00 and a 1 year high of $24.27. The firm has a fifty day moving average price of $21.26 and a 200-day moving average price of $18.79. The stock has a market cap of $2.63 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 3.40 and a beta of 0.75.

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.