Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Sold by Summit Global Investments

Summit Global Investments cut its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,881 shares of the biopharmaceutical company’s stock after selling 3,411 shares during the quarter. Summit Global Investments owned approximately 0.06% of Catalyst Pharmaceuticals worth $1,542,000 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 position in shares of 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 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 purchased a new stake in Catalyst Pharmaceuticals during the 3rd quarter valued at approximately $1,185,000. Redhawk Wealth Advisors Inc. purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at approximately $1,273,000. Finally, Spire Wealth Management raised its stake in Catalyst Pharmaceuticals by 1,342.9% during the 4th quarter. Spire Wealth Management now owns 14,429 shares of the biopharmaceutical company’s stock valued at $301,000 after acquiring an additional 13,429 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CPRX. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 28th. Baird R W raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Bank of America reissued a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.29.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $24.23 on Friday. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $24.64. The company has a market capitalization of $2.94 billion, a P/E ratio of 20.53, a PEG ratio of 3.31 and a beta of 0.84. The business has a 50 day moving average price of $22.39 and a 200 day moving average price of $21.62.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total value of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at $1,521,404.57. This trade represents a 39.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian Elsbernd sold 62,975 shares of the firm’s 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 completion of the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at $4,333,200.72. The trade was 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 company insiders.

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.