Oppenheimer & Co. Inc. Reduces Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Oppenheimer & Co. Inc. reduced its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,409 shares of the biopharmaceutical company’s stock after selling 5,314 shares during the period. Oppenheimer & Co. Inc.’s holdings in Catalyst Pharmaceuticals were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CPRX. GAMMA Investing LLC grew its position in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 681 shares in the last quarter. nVerses Capital LLC purchased a new position in Catalyst Pharmaceuticals during the third quarter worth about $50,000. CWM LLC increased its stake in Catalyst Pharmaceuticals by 686.5% in the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 3,549 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the 2nd quarter valued at about $70,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at about $153,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Insiders Place Their Bets

In related news, insider Steve Miller sold 150,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the completion of the transaction, the insider now directly owns 675,124 shares in the company, valued at $13,738,773.40. This trade represents a 18.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Tierney sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the sale, the director now directly owns 348,874 shares in the company, valued at $7,012,367.40. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ CPRX opened at $20.60 on Monday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $13.00 and a 1 year high of $24.27. The company’s 50-day moving average is $20.99 and its 200 day moving average is $18.37. The stock has a market capitalization of $2.46 billion, a P/E ratio of 17.46, a P/E/G ratio of 3.17 and a beta of 0.75.

Analyst Ratings Changes

CPRX has been the topic of several research analyst reports. Citigroup upped their price objective on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. StockNews.com raised shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Truist Financial increased their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $30.50.

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.