CreativeOne Wealth LLC Lowers Stock Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

CreativeOne Wealth LLC lessened its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,044 shares of the biopharmaceutical company’s stock after selling 2,529 shares during the quarter. CreativeOne Wealth LLC’s holdings in Catalyst Pharmaceuticals were worth $739,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its stake in Catalyst Pharmaceuticals by 233.9% in the 2nd quarter. American Century Companies Inc. now owns 1,757,988 shares of the biopharmaceutical company’s stock worth $38,148,000 after buying an additional 1,231,419 shares during the last quarter. Nuveen LLC purchased a new position in shares of Catalyst Pharmaceuticals during the 1st quarter worth about $17,185,000. MetLife Investment Management LLC boosted its position in shares of Catalyst Pharmaceuticals by 963.5% in the first quarter. MetLife Investment Management LLC now owns 724,091 shares of the biopharmaceutical company’s stock worth $17,559,000 after acquiring an additional 656,004 shares during the last quarter. Swedbank AB purchased a new stake in Catalyst Pharmaceuticals in the first quarter valued at approximately $14,941,000. Finally, Invesco Ltd. increased its position in Catalyst Pharmaceuticals by 41.7% during the first quarter. Invesco Ltd. now owns 1,199,627 shares of the biopharmaceutical company’s stock worth $29,091,000 after purchasing an additional 352,776 shares during the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Elsbernd sold 30,000 shares of Catalyst Pharmaceuticals stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the sale, the insider owned 271,039 shares of the company’s stock, valued at $5,502,091.70. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Carmen Jeffrey Del sold 10,983 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total transaction of $256,233.39. Following the completion of the transaction, the insider directly owned 3,962 shares of the company’s stock, valued at approximately $92,433.46. The trade was a 73.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,983 shares of company stock worth $1,852,433 in the last quarter. Insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

CPRX has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 7th. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Catalyst Pharmaceuticals has an average rating of “Buy” and an average price target of $32.67.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX opened at $23.36 on Friday. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $26.58. The stock’s 50-day moving average is $21.37 and its two-hundred day moving average is $21.72. The stock has a market cap of $2.87 billion, a PE ratio of 14.16, a P/E/G ratio of 0.84 and a beta of 0.79.

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

Catalyst Pharmaceuticals announced that its board has initiated a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.