Hussman Strategic Advisors Inc. Has $3.19 Million Stock Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

Hussman Strategic Advisors Inc. raised its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 75.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,000 shares of the biopharmaceutical company’s stock after purchasing an additional 63,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Catalyst Pharmaceuticals were worth $3,190,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 579 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Catalyst Pharmaceuticals in the 1st quarter valued at about $484,000. Principal Financial Group Inc. lifted its position in Catalyst Pharmaceuticals by 2.8% during the first quarter. Principal Financial Group Inc. now owns 617,506 shares of the biopharmaceutical company’s stock worth $14,975,000 after acquiring an additional 17,018 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter worth approximately $2,195,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Catalyst Pharmaceuticals by 21.4% in the first quarter. Envestnet Asset Management Inc. now owns 78,195 shares of the biopharmaceutical company’s stock valued at $1,896,000 after purchasing an additional 13,800 shares during the last quarter. 79.22% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David S. Tierney sold 26,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were 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 of the company’s stock, valued at $7,668,324. This represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard J. Daly sold 22,970 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the completion of the transaction, the chief executive officer directly owned 226,794 shares in the company, valued at approximately $4,676,492.28. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 243,970 shares of company stock worth $4,927,241 in the last ninety days. 10.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on CPRX shares. Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $33.20.

Catalyst Pharmaceuticals Trading Up 0.8%

Shares of CPRX stock opened at $21.44 on Tuesday. The stock has a market cap of $2.62 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58. The stock has a 50 day simple moving average of $20.42 and a 200 day simple moving average of $21.81.

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. The firm had revenue of $53.11 million during the quarter. Catalyst Pharmaceuticals had a return on equity of 40.78% and a net margin of 37.36%. Analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current year.

Catalyst Pharmaceuticals declared that its Board of Directors has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.