Allspring Global Investments Holdings LLC Purchases 50,888 Shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Allspring Global Investments Holdings LLC boosted its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 13.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 417,332 shares of the biopharmaceutical company’s stock after buying an additional 50,888 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Catalyst Pharmaceuticals were worth $8,710,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake 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 valued at $61,681,000 after buying an additional 151,495 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Catalyst Pharmaceuticals by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,167,743 shares of the biopharmaceutical company’s stock valued at $23,215,000 after buying an additional 50,804 shares during the last quarter. abrdn plc purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at $10,115,000. JPMorgan Chase & Co. raised its stake in Catalyst Pharmaceuticals by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 408,261 shares of the biopharmaceutical company’s stock valued at $8,116,000 after buying an additional 33,888 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Catalyst Pharmaceuticals by 245.4% during the 3rd quarter. Jane Street Group LLC now owns 401,908 shares of the biopharmaceutical company’s stock valued at $7,990,000 after buying an additional 285,564 shares during the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock opened at $22.94 on Wednesday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.49 and a fifty-two week high of $24.64. The firm has a market capitalization of $2.74 billion, a PE ratio of 19.44, a P/E/G ratio of 3.46 and a beta of 0.80. The stock’s 50-day simple moving average is $22.21 and its 200-day simple moving average is $21.19.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stephens assumed coverage on shares of Catalyst Pharmaceuticals in a report on Monday, November 18th. They set an “overweight” rating and a $35.00 price objective for the company. Baird R W raised shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 11th. Bank of America reissued a “buy” rating and issued a $30.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, January 9th. Finally, HC Wainwright lifted their price target on shares of Catalyst Pharmaceuticals from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $32.25.

Insiders Place Their Bets

In other news, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $21.93, for a total value of $1,096,500.00. Following the transaction, the insider now owns 686,996 shares in the company, valued at $15,065,822.28. This trade represents a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary Ingenito sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $22.72, for a total value of $272,640.00. Following the sale, the insider now owns 51,391 shares of the company’s stock, valued at $1,167,603.52. The trade was a 18.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,500 shares of company stock worth $1,754,140. Company insiders own 11.00% of the company’s stock.

Catalyst Pharmaceuticals Company 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.