Arrowstreet Capital Limited Partnership Purchases 396,506 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Arrowstreet Capital Limited Partnership increased its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 131.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 698,152 shares of the biopharmaceutical company’s stock after purchasing an additional 396,506 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.59% of Catalyst Pharmaceuticals worth $14,570,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPRX. JPMorgan Chase & Co. increased its holdings in Catalyst Pharmaceuticals by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after buying an additional 33,888 shares during the period. Farther Finance Advisors LLC increased its stake in Catalyst Pharmaceuticals by 125.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,495 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Catalyst Pharmaceuticals by 13.9% in the fourth 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 period. Wellington Management Group LLP acquired a new position in Catalyst Pharmaceuticals in the third quarter worth about $1,185,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $1,273,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 188,564 shares in the company, valued at $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gary Ingenito sold 44,904 shares of Catalyst Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the sale, the insider now directly owns 68,873 shares of the company’s stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their position. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Catalyst Pharmaceuticals Stock Performance

NASDAQ CPRX opened at $23.07 on Friday. The stock has a market capitalization of $2.80 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 52 week low of $14.47 and a 52 week high of $26.16. The stock has a fifty day moving average of $22.78 and a 200-day moving average of $21.94.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CPRX shares. Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and issued a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Finally, Robert W. Baird boosted their price target on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $32.29.

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.