Catalyst Pharmaceuticals, Inc. $CPRX Shares Sold by Vestcor Inc

Vestcor Inc reduced its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 58.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,480 shares of the biopharmaceutical company’s stock after selling 33,107 shares during the quarter. Vestcor Inc’s holdings in Catalyst Pharmaceuticals were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CPRX. Deerfield Management Company L.P. raised its stake in Catalyst Pharmaceuticals by 72.8% in the 3rd quarter. Deerfield Management Company L.P. now owns 4,974,767 shares of the biopharmaceutical company’s stock valued at $98,003,000 after purchasing an additional 2,095,291 shares during the last quarter. American Century Companies Inc. raised its stake in Catalyst Pharmaceuticals by 43.8% in the 3rd quarter. American Century Companies Inc. now owns 2,528,186 shares of the biopharmaceutical company’s stock valued at $49,805,000 after purchasing an additional 770,198 shares during the last quarter. Fundsmith LLP raised its stake in Catalyst Pharmaceuticals by 24.2% in the 3rd quarter. Fundsmith LLP now owns 3,363,807 shares of the biopharmaceutical company’s stock valued at $66,267,000 after purchasing an additional 654,721 shares during the last quarter. Glenmede Investment Management LP raised its stake in Catalyst Pharmaceuticals by 781.8% in the 3rd quarter. Glenmede Investment Management LP now owns 680,224 shares of the biopharmaceutical company’s stock valued at $13,400,000 after purchasing an additional 603,084 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Catalyst Pharmaceuticals by 30.6% in the 2nd quarter. Bank of America Corp DE now owns 2,365,675 shares of the biopharmaceutical company’s stock worth $51,335,000 after acquiring an additional 554,200 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPRX shares. Truist Financial raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, March 25th. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup downgraded Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $35.00 to $31.50 in a research report on Friday, May 8th. Wall Street Zen downgraded Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Robert W. Baird downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Catalyst Pharmaceuticals Trading Up 0.2%

Shares of NASDAQ:CPRX opened at $31.34 on Wednesday. The business has a 50-day moving average price of $28.74 and a 200 day moving average price of $25.47. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.95 and a beta of 0.74. Catalyst Pharmaceuticals, Inc. has a 12-month low of $19.05 and a 12-month high of $32.56.

Catalyst Pharmaceuticals Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).