Proficio Capital Partners LLC Acquires New Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Proficio Capital Partners LLC bought a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 16,258 shares of the biopharmaceutical company’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers increased its holdings in Catalyst Pharmaceuticals by 0.3% during the 4th quarter. Rhumbline Advisers now owns 312,320 shares of the biopharmaceutical company’s stock worth $6,518,000 after acquiring an additional 952 shares during the period. Handelsbanken Fonder AB grew its position in shares of Catalyst Pharmaceuticals by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 35,477 shares of the biopharmaceutical company’s stock valued at $740,000 after purchasing an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Catalyst Pharmaceuticals in the 4th quarter worth about $27,000. KBC Group NV raised its holdings in shares of Catalyst Pharmaceuticals by 48.8% in the 4th quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Navellier & Associates Inc. grew its stake in Catalyst Pharmaceuticals by 15.2% in the 4th quarter. Navellier & Associates Inc. now owns 14,163 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 1,869 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Insider Buying and Selling

In other news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the sale, the insider now directly owns 68,873 shares in the company, valued at $1,521,404.57. The trade was a 39.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total transaction of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was a 25.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock opened at $25.72 on Wednesday. The firm’s 50-day moving average is $22.53 and its 200 day moving average is $21.72. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $26.16. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 3.31 and a beta of 0.84.

Analyst Ratings Changes

CPRX has been the topic of a number of research reports. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Bank of America restated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Stephens reaffirmed an “overweight” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Finally, StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, February 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.29.

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.