Catalyst Pharmaceuticals, Inc. $CPRX Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 106.8% in the 1st quarter, Holdings Channel reports. The firm owned 75,682 shares of the biopharmaceutical company’s stock after purchasing an additional 39,092 shares during the period. Convergence Investment Partners LLC’s holdings in Catalyst Pharmaceuticals were worth $1,874,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPRX. WINTON GROUP Ltd raised its holdings in shares of Catalyst Pharmaceuticals by 546.7% during the 4th quarter. WINTON GROUP Ltd now owns 353,529 shares of the biopharmaceutical company’s stock worth $8,251,000 after acquiring an additional 298,862 shares during the period. Merit Financial Group LLC acquired a new position in shares of Catalyst Pharmaceuticals in the 4th quarter worth approximately $654,000. Wakefield Asset Management LLLP purchased a new position in shares of Catalyst Pharmaceuticals during the fourth quarter worth $1,203,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Catalyst Pharmaceuticals by 30.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,763 shares of the biopharmaceutical company’s stock valued at $3,913,000 after acquiring an additional 38,695 shares during the period. Finally, Stratos Wealth Advisors LLC boosted its stake in shares of Catalyst Pharmaceuticals by 21.2% in the fourth quarter. Stratos Wealth Advisors LLC now owns 117,721 shares of the biopharmaceutical company’s stock valued at $2,748,000 after purchasing an additional 20,628 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CPRX. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Friday, March 27th. Robert W. Baird lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Catalyst Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen cut Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $31.50 in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ CPRX opened at $31.49 on Wednesday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $32.56. The firm’s 50 day moving average price is $31.37 and its 200 day moving average price is $27.15. The firm has a market cap of $3.86 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 0.96 and a beta of 0.74.

Catalyst Pharmaceuticals Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).