Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stake Raised by Magnetar Financial LLC

Magnetar Financial LLC grew its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 54.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,341 shares of the biopharmaceutical company’s stock after buying an additional 6,841 shares during the period. Magnetar Financial LLC’s holdings in Catalyst Pharmaceuticals were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in shares of Catalyst Pharmaceuticals by 18.7% during the fourth quarter. Teacher Retirement System of Texas now owns 31,655 shares of the biopharmaceutical company’s stock valued at $661,000 after buying an additional 4,996 shares during the last quarter. Xponance Inc. raised its holdings in Catalyst Pharmaceuticals by 6.8% during the fourth quarter. Xponance Inc. now owns 18,763 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 1,189 shares in the last quarter. Boston Partners grew its position in Catalyst Pharmaceuticals by 1.3% in the fourth quarter. Boston Partners now owns 1,291,868 shares of the biopharmaceutical company’s stock worth $27,325,000 after buying an additional 16,601 shares during the last quarter. Intech Investment Management LLC grew its position in Catalyst Pharmaceuticals by 103.2% in the fourth quarter. Intech Investment Management LLC now owns 65,826 shares of the biopharmaceutical company’s stock worth $1,374,000 after buying an additional 33,431 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Catalyst Pharmaceuticals in the fourth quarter worth approximately $218,000. Institutional investors own 79.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CPRX shares. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. Robert W. Baird boosted their target price on shares of Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $35.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, February 28th. Bank of America reissued a “buy” rating and set a $30.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, January 9th. Finally, Stephens reissued an “overweight” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $32.29.

Insider Transactions at Catalyst Pharmaceuticals

In other news, insider Brian Elsbernd sold 62,975 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. This represents a 25.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gary Ingenito sold 44,904 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the sale, the insider now owns 68,873 shares of the company’s stock, valued at $1,521,404.57. This represents a 39.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Catalyst Pharmaceuticals Trading Up 4.6 %

NASDAQ CPRX opened at $24.23 on Friday. Catalyst Pharmaceuticals, Inc. has a 1-year low of $14.47 and a 1-year high of $24.64. The company has a market capitalization of $2.94 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The firm’s fifty day simple moving average is $22.39 and its 200-day simple moving average is $21.62.

About Catalyst Pharmaceuticals

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.