Neo Ivy Capital Management Makes New Investment in Catalyst Pharmaceuticals, Inc. $CPRX

Neo Ivy Capital Management purchased a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 125,627 shares of the biopharmaceutical company’s stock, valued at approximately $2,726,000. Catalyst Pharmaceuticals makes up 0.9% of Neo Ivy Capital Management’s holdings, making the stock its 20th largest holding.

Several other hedge funds also recently modified their holdings of CPRX. Huntington National Bank increased its holdings in Catalyst Pharmaceuticals by 105.0% in the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 734 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Catalyst Pharmaceuticals by 57.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 2,002 shares during the period. US Bancorp DE raised its holdings in Catalyst Pharmaceuticals by 17.8% in the 1st quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 1,105 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Catalyst Pharmaceuticals during the 1st quarter worth approximately $188,000. Finally, Quarry LP boosted its position in Catalyst Pharmaceuticals by 60.0% during the 1st quarter. Quarry LP now owns 8,000 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 3,000 shares during the period. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Transactions at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, CEO Richard J. Daly sold 22,970 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the transaction, the chief executive officer owned 226,794 shares in the company, valued at approximately $4,676,492.28. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Elsbernd sold 30,000 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $20.30, for a total transaction of $609,000.00. Following the completion of the transaction, the insider directly owned 271,039 shares in the company, valued at $5,502,091.70. This trade represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 243,970 shares of company stock valued at $4,927,241 over the last ninety days. Company insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Oppenheimer restated an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Citigroup lifted their target price on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.67.

Catalyst Pharmaceuticals Price Performance

CPRX stock opened at $22.77 on Friday. The company’s 50-day moving average is $20.96 and its 200-day moving average is $21.73. The stock has a market capitalization of $2.80 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The business had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a return on equity of 40.78% and a net margin of 37.36%. On average, analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current fiscal year.

Catalyst Pharmaceuticals announced that its board has authorized a share buyback program on Wednesday, October 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Catalyst Pharmaceuticals

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.