Wedge Capital Management L L P NC Makes New $2.86 Million Investment in Catalyst Pharmaceuticals, Inc. $CPRX

by · The Cerbat Gem

Wedge Capital Management L L P NC bought a new stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 145,168 shares of the biopharmaceutical company’s stock, valued at approximately $2,860,000. Wedge Capital Management L L P NC owned about 0.12% of Catalyst Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CPRX. Redhawk Wealth Advisors Inc. grew its holdings in shares of Catalyst Pharmaceuticals by 24.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 67,778 shares of the biopharmaceutical company’s stock worth $1,471,000 after purchasing an additional 13,407 shares in the last quarter. Cresset Asset Management LLC lifted its position in Catalyst Pharmaceuticals by 588.1% during the second quarter. Cresset Asset Management LLC now owns 87,418 shares of the biopharmaceutical company’s stock worth $1,897,000 after purchasing an additional 74,713 shares during the period. Boston Partners grew its stake in Catalyst Pharmaceuticals by 0.6% during the second quarter. Boston Partners now owns 1,282,722 shares of the biopharmaceutical company’s stock worth $27,928,000 after buying an additional 7,397 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Catalyst Pharmaceuticals by 18.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,223,623 shares of the biopharmaceutical company’s stock valued at $26,553,000 after buying an additional 188,594 shares during the period. Finally, Swedbank AB bought a new position in Catalyst Pharmaceuticals in the 1st quarter valued at about $14,941,000. 79.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, December 17th. Oppenheimer restated an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Friday, November 7th. Finally, Citigroup boosted their target price on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Catalyst Pharmaceuticals has an average rating of “Buy” and an average target price of $32.67.

Get Our Latest Research Report on Catalyst Pharmaceuticals

Insiders Place Their Bets

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 26,746 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the completion of the sale, the director directly owned 2,360 shares in the company, valued at approximately $54,870. This trade represents a 91.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carmen Jeffrey Del sold 10,983 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $23.33, for a total value 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. This trade represents a 73.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.40% of the company’s stock.

Catalyst Pharmaceuticals Trading Up 2.4%

Shares of CPRX opened at $24.31 on Tuesday. The stock’s 50-day moving average price is $22.38 and its two-hundred day moving average price is $21.56. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $26.58. The company has a market capitalization of $2.99 billion, a PE ratio of 14.13, a PEG ratio of 0.84 and a beta of 0.68.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Free Report) last issued its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%.The company had revenue of $53.11 million during the quarter. Equities research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current fiscal year.

Catalyst Pharmaceuticals declared that its board has initiated a share 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 board believes its shares are undervalued.

Catalyst Pharmaceuticals Profile

(Free Report)

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).

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