Citigroup Inc. Trims Stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Citigroup Inc. lowered its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX – Get Rating) by 31.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,167 shares of the biopharmaceutical company’s stock after selling 135,470 shares during the quarter. Citigroup Inc.’s holdings in Catalyst Pharmaceuticals were worth $5,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in Catalyst Pharmaceuticals by 119.6% in the 3rd quarter. BlackRock Inc. now owns 15,268,931 shares of the biopharmaceutical company’s stock worth $195,902,000 after buying an additional 8,317,115 shares during the period. State Street Corp increased its stake in Catalyst Pharmaceuticals by 39.0% in the 3rd quarter. State Street Corp now owns 7,555,423 shares of the biopharmaceutical company’s stock worth $96,936,000 after buying an additional 2,117,944 shares during the period. Vanguard Group Inc. increased its stake in Catalyst Pharmaceuticals by 26.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,139,650 shares of the biopharmaceutical company’s stock worth $78,772,000 after buying an additional 1,277,662 shares during the period. Millennium Management LLC increased its stake in Catalyst Pharmaceuticals by 134.1% in the 2nd quarter. Millennium Management LLC now owns 2,723,895 shares of the biopharmaceutical company’s stock worth $19,095,000 after buying an additional 1,560,086 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Catalyst Pharmaceuticals by 115.8% in the 3rd quarter. Renaissance Technologies LLC now owns 2,226,512 shares of the biopharmaceutical company’s stock worth $28,566,000 after buying an additional 1,194,900 shares during the period. Hedge funds and other institutional investors own 86.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Cantor Fitzgerald increased their target price on shares of Catalyst Pharmaceuticals from $22.00 to $25.00 in a report on Friday, March 17th. Piper Sandler increased their target price on shares of Catalyst Pharmaceuticals from $20.00 to $21.00 in a report on Tuesday, February 7th. Finally, StockNews.com cut shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Catalyst Pharmaceuticals Trading Down 0.2 %

CPRX opened at $12.17 on Friday. Catalyst Pharmaceuticals, Inc. has a 12-month low of $6.15 and a 12-month high of $22.11. The firm has a market capitalization of $1.29 billion, a PE ratio of 13.83 and a beta of 1.11. The firm has a 50 day moving average of $16.11 and a two-hundred day moving average of $16.51.

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, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $60.76 million during the quarter, compared to analyst estimates of $60.64 million. Catalyst Pharmaceuticals had a net margin of 38.76% and a return on equity of 34.72%. As a group, analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other news, Director David S. Tierney sold 30,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $16.83, for a total transaction of $504,900.00. Following the completion of the transaction, the director now directly owns 313,541 shares of the company’s stock, valued at approximately $5,276,895.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David S. Tierney sold 30,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $16.83, for a total transaction of $504,900.00. Following the completion of the transaction, the director now directly owns 313,541 shares of the company’s stock, valued at approximately $5,276,895.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick J. Mcenany sold 26,151 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $13.23, for a total transaction of $345,977.73. Following the completion of the sale, the chief executive officer now directly owns 3,945,436 shares of the company’s stock, valued at approximately $52,198,118.28. The disclosure for this sale can be found here. Insiders sold a total of 246,151 shares of company stock valued at $3,974,706 in the last three months. 14.10% of the stock is currently owned by corporate insiders.

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.