Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stake Increased by Martingale Asset Management L P

Martingale Asset Management L P raised its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 27.4% during the fourth quarter, HoldingsChannel reports. The fund owned 110,967 shares of the biopharmaceutical company’s stock after acquiring an additional 23,890 shares during the quarter. Martingale Asset Management L P’s holdings in Catalyst Pharmaceuticals were worth $2,316,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Catalyst Pharmaceuticals by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock worth $175,957,000 after purchasing an additional 390,116 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Catalyst Pharmaceuticals by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 2,955,508 shares of the biopharmaceutical company’s stock worth $61,681,000 after buying an additional 151,495 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Catalyst Pharmaceuticals by 7.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,706,116 shares of the biopharmaceutical company’s stock worth $56,477,000 after acquiring an additional 180,100 shares in the last quarter. Boston Partners increased its holdings in shares of Catalyst Pharmaceuticals by 1.3% in the 4th quarter. Boston Partners now owns 1,291,868 shares of the biopharmaceutical company’s stock valued at $27,325,000 after acquiring an additional 16,601 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Catalyst Pharmaceuticals by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,246,925 shares of the biopharmaceutical company’s stock valued at $26,023,000 after acquiring an additional 79,182 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPRX has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. Bank of America reiterated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Robert W. Baird boosted their price objective on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $32.29.

Insider Buying and Selling

In other news, insider Brian Elsbernd sold 62,975 shares of the 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 in the company, valued at $4,333,200.72. This trade represents a 25.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary Ingenito sold 44,904 shares of the business’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 sale, the insider now directly owns 68,873 shares in the company, valued at approximately $1,521,404.57. The trade was a 39.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock opened at $21.45 on Friday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $14.47 and a 1 year high of $26.16. The firm has a market capitalization of $2.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 3.31 and a beta of 0.79. The stock has a fifty day moving average of $22.65 and a two-hundred day moving average of $21.99.

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.