Meeder Asset Management Inc. Invests $70,000 in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Meeder Asset Management Inc. purchased a new position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,497 shares of the biopharmaceutical company’s stock, valued at approximately $70,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gallacher Capital Management LLC purchased a new position in shares of Catalyst Pharmaceuticals during the 2nd quarter worth $288,000. Arizona State Retirement System lifted its stake in shares of Catalyst Pharmaceuticals by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 29,733 shares of the biopharmaceutical company’s stock valued at $461,000 after buying an additional 654 shares in the last quarter. TD Asset Management Inc purchased a new position in shares of Catalyst Pharmaceuticals during the 2nd quarter valued at $254,000. Mesirow Institutional Investment Management Inc. lifted its stake in shares of Catalyst Pharmaceuticals by 29.9% during the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 934,234 shares of the biopharmaceutical company’s stock valued at $14,471,000 after buying an additional 215,130 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Catalyst Pharmaceuticals by 3.5% during the 2nd quarter. Rhumbline Advisers now owns 323,769 shares of the biopharmaceutical company’s stock valued at $5,015,000 after buying an additional 10,805 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Stock Down 0.3 %

Catalyst Pharmaceuticals stock opened at $20.22 on Friday. The company’s 50-day moving average price is $18.42 and its 200-day moving average price is $16.64. The company has a market cap of $2.40 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 3.10 and a beta of 0.75. Catalyst Pharmaceuticals, Inc. has a twelve month low of $11.55 and a twelve month high of $20.87.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its earnings results on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.13. The firm had revenue of $122.71 million for the quarter, compared to analysts’ expectations of $111.76 million. Catalyst Pharmaceuticals had a net margin of 15.69% and a return on equity of 27.77%. As a group, sell-side analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Carmen Jeffrey Del sold 36,058 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $18.42, for a total transaction of $664,188.36. Following the sale, the insider now directly owns 12,369 shares in the company, valued at approximately $227,836.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Carmen Jeffrey Del sold 36,058 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the sale, the insider now directly owns 12,369 shares of the company’s stock, valued at approximately $227,836.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David S. Tierney sold 15,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the completion of the sale, the director now directly owns 348,874 shares in the company, valued at $7,012,367.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,058 shares of company stock worth $4,018,188. 11.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CPRX. Truist Financial lifted their target price on shares of Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright lifted their target price on shares of Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, August 12th. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Citigroup boosted their price target on shares of Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $29.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, June 6th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Catalyst Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $29.50.

Catalyst Pharmaceuticals 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.