Y Intercept Hong Kong Ltd Takes $273,000 Position in Catalyst Pharmaceuticals, Inc. $CPRX

Y Intercept Hong Kong Ltd bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the second quarter, according to its most recent filing with the SEC. The firm bought 12,571 shares of the biopharmaceutical company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRX. Convergence Investment Partners LLC acquired a new position in shares of Catalyst Pharmaceuticals during the second quarter valued at about $1,191,000. Ashton Thomas Private Wealth LLC boosted its stake in Catalyst Pharmaceuticals by 23.0% during the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 16,011 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 2,997 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Catalyst Pharmaceuticals by 29.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 101,607 shares of the biopharmaceutical company’s stock worth $2,205,000 after purchasing an additional 23,412 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Catalyst Pharmaceuticals by 261.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 127,426 shares of the biopharmaceutical company’s stock worth $2,765,000 after purchasing an additional 92,193 shares during the last quarter. Finally, Shaker Investments LLC OH lifted its holdings in shares of Catalyst Pharmaceuticals by 89.1% in the second quarter. Shaker Investments LLC OH now owns 19,993 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 9,421 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $21.39 on Friday. The company has a market capitalization of $2.63 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. The company’s 50-day moving average is $20.50 and its 200 day moving average is $21.79. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 EPS for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The business had revenue of $53.11 million for the quarter. As a group, research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals announced that its board has approved a stock buyback plan on Wednesday, October 1st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPRX shares. Wall Street Zen downgraded Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup upped their target price on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a report on Wednesday, October 8th. Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $33.14.

Insider Transactions at Catalyst Pharmaceuticals

In other news, CEO Richard J. Daly sold 22,970 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $20.62, for a total transaction of $473,641.40. Following the transaction, the chief executive officer owned 226,794 shares of the company’s stock, valued at $4,676,492.28. This represents a 9.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steve Miller sold 115,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $20.28, for a total value of $2,332,200.00. Following the completion of the sale, the insider directly owned 949,663 shares of the company’s stock, valued at approximately $19,259,165.64. This trade represents a 10.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 243,970 shares of company stock worth $4,927,241 in the last ninety days. Company insiders own 10.40% of the company’s stock.

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.