Bank of New York Mellon Corp Raises Holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Bank of New York Mellon Corp increased its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 723,545 shares of the biopharmaceutical company’s stock after purchasing an additional 9,194 shares during the period. Bank of New York Mellon Corp owned 0.61% of Catalyst Pharmaceuticals worth $15,100,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Catalyst Pharmaceuticals by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock worth $8,116,000 after purchasing an additional 33,888 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Catalyst Pharmaceuticals by 13.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 417,332 shares of the biopharmaceutical company’s stock valued at $8,710,000 after acquiring an additional 50,888 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Catalyst Pharmaceuticals during the 3rd quarter worth approximately $1,185,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Catalyst Pharmaceuticals in the 4th quarter valued at approximately $1,273,000. Finally, Spire Wealth Management increased its holdings in shares of Catalyst Pharmaceuticals by 1,342.9% in the fourth quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 13,429 shares during the period. 79.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $22.09, for a total transaction 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 filing with the SEC, which is available through the SEC website. Also, insider Brian Elsbernd sold 62,975 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the completion of the transaction, the insider now owns 188,564 shares of the company’s stock, valued at $4,333,200.72. This trade represents 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Bank of America reaffirmed a “buy” rating and set a $30.00 price target on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Robert W. Baird lifted their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $35.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Stephens restated an “overweight” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Finally, Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.50.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock opened at $21.20 on Thursday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $24.64. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The stock’s fifty day moving average is $22.27 and its two-hundred day moving average is $21.52.

Catalyst Pharmaceuticals 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.