Wealth Enhancement Advisory Services LLC Increases Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 11.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,017 shares of the biopharmaceutical company’s stock after acquiring an additional 1,989 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Catalyst Pharmaceuticals were worth $398,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CPRX. Toth Financial Advisory Corp purchased a new position in Catalyst Pharmaceuticals in the third quarter valued at approximately $1,004,000. Allspring Global Investments Holdings LLC lifted its position in Catalyst Pharmaceuticals by 146.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 366,444 shares of the biopharmaceutical company’s stock valued at $7,285,000 after acquiring an additional 217,956 shares during the last quarter. Friedenthal Financial acquired a new position in Catalyst Pharmaceuticals in the third quarter valued at $738,000. AlphaMark Advisors LLC acquired a new position in Catalyst Pharmaceuticals in the third quarter valued at $328,000. Finally, nVerses Capital LLC acquired a new stake in shares of Catalyst Pharmaceuticals during the third quarter worth about $50,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CPRX. Citigroup raised their price target on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research report on Friday. Truist Financial upped their price target on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and an average target price of $29.50.

Insider Buying and Selling

In other Catalyst Pharmaceuticals news, Director David S. Tierney sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the sale, the director now owns 348,874 shares of the company’s stock, valued at approximately $7,012,367.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David S. Tierney sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the completion of the sale, the director now owns 348,874 shares in the company, valued at $7,012,367.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Miller sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the transaction, the insider now owns 675,124 shares in the company, valued at $13,738,773.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate insiders.

Catalyst Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ:CPRX opened at $23.93 on Friday. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.62 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $24.27. The firm’s 50-day simple moving average is $20.74 and its 200-day simple moving average is $18.09.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.13. The company had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $111.76 million. Catalyst Pharmaceuticals had a return on equity of 43.57% and a net margin of 31.01%. On average, research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.82 EPS for the current year.

Catalyst Pharmaceuticals Company Profile

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.