The Manufacturers Life Insurance Company Boosts Stock Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

The Manufacturers Life Insurance Company increased its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 25.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,738 shares of the biopharmaceutical company’s stock after buying an additional 13,054 shares during the period. The Manufacturers Life Insurance Company’s holdings in Catalyst Pharmaceuticals were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its position in Catalyst Pharmaceuticals by 130,918.8% during the second quarter. Pacer Advisors Inc. now owns 2,967,575 shares of the biopharmaceutical company’s stock worth $45,968,000 after buying an additional 2,965,310 shares during the period. Janus Henderson Group PLC grew its position in Catalyst Pharmaceuticals by 139.5% during the first quarter. Janus Henderson Group PLC now owns 2,726,388 shares of the biopharmaceutical company’s stock valued at $43,445,000 after acquiring an additional 1,587,794 shares during the period. Vanguard Group Inc. grew its stake in Catalyst Pharmaceuticals by 12.1% during the first quarter. Vanguard Group Inc. now owns 7,980,661 shares of the biopharmaceutical company’s stock worth $127,212,000 after buying an additional 860,244 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new position in shares of Catalyst Pharmaceuticals in the 1st quarter valued at $11,463,000. Finally, Kennedy Capital Management LLC boosted its position in Catalyst Pharmaceuticals by 101.1% during the 1st quarter. Kennedy Capital Management LLC now owns 1,061,704 shares of the biopharmaceutical company’s stock worth $16,924,000 after purchasing an additional 533,802 shares during the period. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Trading Up 1.5 %

Shares of Catalyst Pharmaceuticals stock opened at $20.20 on Monday. Catalyst Pharmaceuticals, Inc. has a 52 week low of $11.89 and a 52 week high of $21.67. The company’s 50-day moving average price is $19.77 and its two-hundred day moving average price is $17.22. The stock has a market cap of $2.39 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 3.18 and a beta of 0.76.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.13. The company had revenue of $122.71 million during the quarter, compared to the consensus estimate of $111.76 million. Catalyst Pharmaceuticals had a return on equity of 27.77% and a net margin of 15.69%. On average, equities analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steve Miller sold 150,000 shares of Catalyst Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total value of $3,052,500.00. Following the transaction, the insider now directly 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 legal filing with the SEC, which is available at this link. In other Catalyst Pharmaceuticals news, insider Carmen Jeffrey Del sold 36,058 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $18.42, for a total value of $664,188.36. Following the completion of the sale, the insider now owns 12,369 shares in the company, valued at $227,836.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steve Miller sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $20.35, for a total transaction of $3,052,500.00. Following the transaction, the insider now owns 675,124 shares in the company, valued at approximately $13,738,773.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,058 shares of company stock worth $4,018,188. Company insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRX has been the topic of several analyst reports. HC Wainwright raised their target price on Catalyst Pharmaceuticals from $26.00 to $30.00 and gave the company a “buy” rating in a report on Monday, August 12th. StockNews.com upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Citigroup upped their price objective on Catalyst Pharmaceuticals from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial upped their price target on Catalyst Pharmaceuticals from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.