Advisors Preferred LLC Purchases New Position in Catalyst Pharmaceuticals, Inc. $CPRX

Advisors Preferred LLC acquired a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 381,183 shares of the biopharmaceutical company’s stock, valued at approximately $9,438,000. Catalyst Pharmaceuticals comprises about 1.4% of Advisors Preferred LLC’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of CPRX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Catalyst Pharmaceuticals by 15.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 66,223 shares of the biopharmaceutical company’s stock valued at $1,640,000 after purchasing an additional 8,673 shares during the period. Fifth Third Bancorp grew its holdings in shares of Catalyst Pharmaceuticals by 4,708.1% in the 1st quarter. Fifth Third Bancorp now owns 28,368 shares of the biopharmaceutical company’s stock valued at $702,000 after buying an additional 27,778 shares during the period. SkyOak Wealth LLC acquired a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at $303,000. Kestra Advisory Services LLC grew its holdings in shares of Catalyst Pharmaceuticals by 1.9% in the 1st quarter. Kestra Advisory Services LLC now owns 39,901 shares of the biopharmaceutical company’s stock valued at $988,000 after buying an additional 742 shares during the period. Finally, Money Concepts Capital Corp bought a new stake in shares of Catalyst Pharmaceuticals in the 1st quarter valued at $233,000. Institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of Catalyst Pharmaceuticals stock opened at $31.49 on Wednesday. The business’s 50 day simple moving average is $31.32 and its 200 day simple moving average is $26.88. Catalyst Pharmaceuticals, Inc. has a 52-week low of $19.05 and a 52-week high of $32.56. The firm has a market cap of $3.86 billion, a PE ratio of 18.10, a P/E/G ratio of 0.96 and a beta of 0.74.

Wall Street Analyst Weigh In

CPRX has been the topic of several recent analyst reports. Oppenheimer lowered Catalyst Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Thursday, May 7th. Truist Financial raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, March 25th. Stephens set a $32.00 price objective on Catalyst Pharmaceuticals in a report on Thursday, May 7th. Cantor Fitzgerald upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Robert W. Baird cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Catalyst Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

About Catalyst Pharmaceuticals

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).