Cubist Systematic Strategies LLC Cuts Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Cubist Systematic Strategies LLC lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 96.5% in the second quarter, Holdings Channel reports. The institutional investor owned 8,523 shares of the biopharmaceutical company’s stock after selling 233,967 shares during the period. Cubist Systematic Strategies LLC’s holdings in Catalyst Pharmaceuticals were worth $132,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Catalyst Pharmaceuticals by 72.9% during the first quarter. GAMMA Investing LLC now owns 1,942 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 819 shares in the last quarter. CWM LLC increased its stake in Catalyst Pharmaceuticals by 686.5% during the 2nd quarter. CWM LLC now owns 4,066 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 3,549 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Catalyst Pharmaceuticals in the second quarter worth about $70,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Catalyst Pharmaceuticals in the second quarter worth approximately $153,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Catalyst Pharmaceuticals during the first quarter valued at approximately $154,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Insiders Place Their Bets

In other news, Director David S. Tierney sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.10, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Steve Miller sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $20.35, for a total value of $3,052,500.00. Following the transaction, the insider now owns 675,124 shares of the company’s stock, valued at $13,738,773.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Tierney sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $20.10, for a total value of $301,500.00. Following the transaction, the director now owns 348,874 shares of the company’s stock, valued at approximately $7,012,367.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,058 shares of company stock worth $4,018,188. Company insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CPRX shares. StockNews.com upgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Truist Financial boosted their price target on Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Citigroup lifted their price objective on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, HC Wainwright upped 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. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $29.50.

Catalyst Pharmaceuticals Stock Performance

Catalyst Pharmaceuticals stock opened at $21.18 on Wednesday. The stock has a market cap of $2.50 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 3.18 and a beta of 0.76. The stock has a fifty day moving average of $19.87 and a 200 day moving average of $17.25. Catalyst Pharmaceuticals, Inc. has a one year low of $11.89 and a one year high of $21.67.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last issued its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.52 earnings per share for the quarter, topping 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 predict that Catalyst Pharmaceuticals, Inc. will post 1.82 EPS for the current fiscal year.

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.