American Century Companies Inc. Lowers Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. trimmed its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Free Report) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 812,206 shares of the biopharmaceutical company’s stock after selling 28,095 shares during the period. American Century Companies Inc. owned approximately 0.77% of Catalyst Pharmaceuticals worth $13,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. purchased a new stake in shares of Catalyst Pharmaceuticals in the 1st quarter valued at $311,000. Rhumbline Advisers lifted its position in shares of Catalyst Pharmaceuticals by 6.2% during the first quarter. Rhumbline Advisers now owns 280,781 shares of the biopharmaceutical company’s stock worth $4,655,000 after purchasing an additional 16,440 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Catalyst Pharmaceuticals by 49.5% in the first quarter. Citigroup Inc. now owns 432,304 shares of the biopharmaceutical company’s stock valued at $7,168,000 after purchasing an additional 143,137 shares during the period. Guggenheim Capital LLC grew its holdings in shares of Catalyst Pharmaceuticals by 185.7% in the first quarter. Guggenheim Capital LLC now owns 63,063 shares of the biopharmaceutical company’s stock valued at $1,046,000 after purchasing an additional 40,990 shares in the last quarter. Finally, Credit Suisse AG increased its stake in Catalyst Pharmaceuticals by 2.8% during the 1st quarter. Credit Suisse AG now owns 85,600 shares of the biopharmaceutical company’s stock worth $1,419,000 after buying an additional 2,349 shares during the period. 77.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CPRX shares. Truist Financial raised their price target on shares of Catalyst Pharmaceuticals from $22.00 to $24.00 in a research report on Tuesday, June 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Catalyst Pharmaceuticals in a research report on Tuesday, August 22nd. Piper Sandler boosted their price objective on Catalyst Pharmaceuticals from $21.00 to $24.00 in a research report on Wednesday, June 21st. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, August 11th. Finally, StockNews.com initiated coverage on shares of Catalyst Pharmaceuticals in a report on Thursday, August 17th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.75.

View Our Latest Stock Report on Catalyst Pharmaceuticals

Catalyst Pharmaceuticals Stock Down 0.9 %

CPRX stock opened at $13.92 on Friday. The business has a 50 day moving average price of $13.70 and a 200 day moving average price of $14.45. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 13.78 and a beta of 1.13. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $22.11.

Catalyst Pharmaceuticals (NASDAQ:CPRX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. Catalyst Pharmaceuticals had a net margin of 38.14% and a return on equity of 36.13%. The firm had revenue of $99.58 million for the quarter, compared to analyst estimates of $92.77 million. As a group, sell-side analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 0.87 EPS for the current year.

Catalyst Pharmaceuticals Profile

(Free Report)

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.