Aberdeen Group plc Sells 76,534 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Aberdeen Group plc trimmed its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 688,760 shares of the biopharmaceutical company’s stock after selling 76,534 shares during the quarter. Aberdeen Group plc owned approximately 0.56% of Catalyst Pharmaceuticals worth $14,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC acquired a new position in shares of Catalyst Pharmaceuticals during the first quarter worth approximately $64,000. GAMMA Investing LLC lifted its position in shares of Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 579 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Catalyst Pharmaceuticals by 57.2% during the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 2,002 shares in the last quarter. US Bancorp DE lifted its position in shares of Catalyst Pharmaceuticals by 17.8% during the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 1,105 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Catalyst Pharmaceuticals during the first quarter worth approximately $182,000. 79.22% of the stock is owned by institutional investors.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX opened at $20.31 on Wednesday. The company’s 50 day simple moving average is $20.22 and its 200 day simple moving average is $21.99. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58. The firm has a market capitalization of $2.49 billion, a P/E ratio of 12.31, a P/E/G ratio of 0.81 and a beta of 0.79.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The business had revenue of $53.11 million for the quarter. Sell-side analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current fiscal year.

Catalyst Pharmaceuticals announced that its board has authorized a stock buyback program on Wednesday, October 1st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Zacks Research lowered shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $33.20.

Insider Activity

In other Catalyst Pharmaceuticals news, CEO Richard J. Daly sold 22,970 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total value of $473,641.40. Following the sale, the chief executive officer directly owned 226,794 shares in the company, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David S. Tierney sold 26,000 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the completion of the sale, the director owned 379,620 shares in the company, valued at approximately $7,668,324. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,970 shares of company stock valued at $4,927,241. 10.40% of the stock is currently owned by company insiders.

About Catalyst Pharmaceuticals

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.