Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Shares Purchased by Raymond James Financial Services Advisors Inc.

Posted by Defense World Staff on May 19th, 2023

Raymond James Financial Services Advisors Inc. raised its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Get Rating) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 314,728 shares of the biopharmaceutical company’s stock after purchasing an additional 14,715 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.30% of Catalyst Pharmaceuticals worth $5,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HBW Advisory Services LLC purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $225,000. Profund Advisors LLC purchased a new stake in Catalyst Pharmaceuticals during the third quarter worth approximately $161,000. Virtu Financial LLC purchased a new stake in Catalyst Pharmaceuticals during the third quarter worth approximately $1,140,000. Hancock Whitney Corp purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter worth approximately $275,000. Finally, Prudential Financial Inc. grew its stake in Catalyst Pharmaceuticals by 16.3% during the third quarter. Prudential Financial Inc. now owns 1,492,625 shares of the biopharmaceutical company’s stock worth $19,149,000 after buying an additional 209,580 shares during the period. Institutional investors and hedge funds own 86.66% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

CPRX opened at $12.20 on Friday. The stock has a market capitalization of $1.29 billion, a PE ratio of 13.86 and a beta of 1.11. The firm’s fifty day moving average price is $16.16 and its 200 day moving average price is $16.50. Catalyst Pharmaceuticals, Inc. has a 12-month low of $6.15 and a 12-month high of $22.11.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The biopharmaceutical company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $60.76 million for the quarter, compared to analysts’ expectations of $60.64 million. Catalyst Pharmaceuticals had a net margin of 38.76% and a return on equity of 34.72%. On average, equities research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.22 earnings per share for the current fiscal year.

Insider Activity at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, CEO Patrick J. Mcenany sold 26,151 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $13.23, for a total transaction of $345,977.73. Following the sale, the chief executive officer now directly owns 3,945,436 shares of the company’s stock, valued at $52,198,118.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Catalyst Pharmaceuticals news, CEO Patrick J. Mcenany sold 26,151 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $13.23, for a total transaction of $345,977.73. Following the sale, the chief executive officer now directly owns 3,945,436 shares of the company’s stock, valued at $52,198,118.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Elsbernd sold 50,000 shares of the stock in a transaction on Monday, March 20th. The stock was sold at an average price of $16.07, for a total transaction of $803,500.00. Following the sale, the insider now directly owns 138,076 shares in the company, valued at $2,218,881.32. The disclosure for this sale can be found here. Insiders have sold 246,151 shares of company stock valued at $3,974,706 over the last ninety days. Corporate insiders own 14.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Catalyst Pharmaceuticals from $20.00 to $21.00 in a research note on Tuesday, February 7th. Truist Financial upped their target price on shares of Catalyst Pharmaceuticals from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Cantor Fitzgerald upped their target price on shares of Catalyst Pharmaceuticals from $22.00 to $25.00 in a research note on Friday, March 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.50.

Catalyst Pharmaceuticals Profile

(Get Rating)

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company, which engages in developing and commercializing novel medicines for patients living with rare diseases including Lambert-Eaton myasthenic syndrome, congenital myasthenic syndromes, MuSK antibody positive myasthenia gravis, spinal muscular atrophy type 3, and infantile spasms.