Catalyst Pharmaceuticals, Inc. $CPRX Shares Sold by Skandinaviska Enskilda Banken AB publ

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Free Report) by 29.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,700 shares of the biopharmaceutical company’s stock after selling 234,200 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Catalyst Pharmaceuticals were worth $11,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRX. Cetera Investment Advisers grew its stake in shares of Catalyst Pharmaceuticals by 34.9% during the first quarter. Cetera Investment Advisers now owns 58,180 shares of the biopharmaceutical company’s stock worth $1,411,000 after acquiring an additional 15,066 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Catalyst Pharmaceuticals by 11.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,897 shares of the biopharmaceutical company’s stock worth $774,000 after purchasing an additional 3,244 shares in the last quarter. LPL Financial LLC grew its position in Catalyst Pharmaceuticals by 28.0% during the 1st quarter. LPL Financial LLC now owns 74,229 shares of the biopharmaceutical company’s stock worth $1,800,000 after purchasing an additional 16,246 shares during the last quarter. Mackenzie Financial Corp grew its position in Catalyst Pharmaceuticals by 16.7% during the 1st quarter. Mackenzie Financial Corp now owns 40,288 shares of the biopharmaceutical company’s stock worth $977,000 after purchasing an additional 5,757 shares during the last quarter. Finally, Vestcor Inc increased its stake in Catalyst Pharmaceuticals by 3.0% during the 1st quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 840 shares in the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Carmen Jeffrey Del sold 10,983 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total transaction of $256,233.39. Following the sale, the insider directly owned 3,962 shares of the company’s stock, valued at $92,433.46. This represents a 73.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was 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 in the company, valued at approximately $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,983 shares of company stock valued at $1,852,433 in the last 90 days. Company insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CPRX. Oppenheimer reiterated an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Citigroup raised 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. Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Zacks Research lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.67.

Read Our Latest Stock Report on CPRX

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX opened at $23.36 on Friday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58. The firm has a market capitalization of $2.87 billion, a PE ratio of 14.16, a P/E/G ratio of 0.84 and a beta of 0.79. The business’s 50 day moving average price is $21.37 and its 200-day moving average price is $21.71.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Free Report) last announced its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The firm had revenue of $53.11 million for the quarter. As a group, analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals declared that its board has initiated a share buyback plan on Wednesday, October 1st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Catalyst Pharmaceuticals Company Profile

(Free Report)

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.

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