Point72 Asset Management L.P. Has $9.58 Million Stock Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Point72 Asset Management L.P. raised its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 47.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 618,296 shares of the biopharmaceutical company’s stock after buying an additional 200,370 shares during the period. Point72 Asset Management L.P. owned about 0.52% of Catalyst Pharmaceuticals worth $9,577,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRX. Oppenheimer & Co. Inc. bought a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at about $805,000. Sei Investments Co. grew its holdings in Catalyst Pharmaceuticals by 64.3% during the 1st quarter. Sei Investments Co. now owns 83,360 shares of the biopharmaceutical company’s stock worth $1,329,000 after acquiring an additional 32,621 shares during the period. GSA Capital Partners LLP acquired a new stake in Catalyst Pharmaceuticals during the 1st quarter worth $954,000. Vanguard Group Inc. raised its position in shares of Catalyst Pharmaceuticals by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 7,120,417 shares of the biopharmaceutical company’s stock valued at $119,694,000 after acquiring an additional 73,930 shares during the last quarter. Finally, Juncture Wealth Strategies LLC lifted its stake in shares of Catalyst Pharmaceuticals by 764.0% in the 1st quarter. Juncture Wealth Strategies LLC now owns 94,583 shares of the biopharmaceutical company’s stock valued at $1,508,000 after purchasing an additional 83,636 shares during the period. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

NASDAQ:CPRX opened at $19.88 on Tuesday. The stock has a 50-day simple moving average of $19.28 and a 200 day simple moving average of $16.98. Catalyst Pharmaceuticals, Inc. has a 52-week low of $11.55 and a 52-week high of $21.67. The company has a market cap of $2.35 billion, a PE ratio of 36.81, a PEG ratio of 3.27 and a beta of 0.75.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.13. The company had revenue of $122.71 million during the quarter, compared to analysts’ expectations of $111.76 million. Catalyst Pharmaceuticals had a net margin of 15.69% and a return on equity of 27.77%. On average, research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CPRX shares. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. HC Wainwright upped their price target on Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Truist Financial lifted their price objective on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup upped their target price on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $29.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, June 6th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $29.50.

Insider Activity

In related news, Director David S. Tierney sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the sale, the director now owns 348,874 shares in the company, valued at $7,012,367.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Carmen Jeffrey Del sold 36,058 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the sale, the insider now directly owns 12,369 shares of the company’s stock, valued at approximately $227,836.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Tierney sold 15,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total value of $301,500.00. Following the transaction, the director now owns 348,874 shares of the company’s stock, valued at approximately $7,012,367.40. The disclosure for this sale can be found here. Insiders sold 201,058 shares of company stock worth $4,018,188 in the last quarter. Corporate insiders own 11.00% of the company’s stock.

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.