abrdn plc Buys New Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

abrdn plc bought a new position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 484,666 shares of the biopharmaceutical company’s stock, valued at approximately $10,115,000.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Catalyst Pharmaceuticals by 62.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 681 shares during the period. nVerses Capital LLC bought a new position in Catalyst Pharmaceuticals during the third quarter worth $50,000. Larson Financial Group LLC grew its holdings in Catalyst Pharmaceuticals by 27,218.2% in the third quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 2,994 shares during the period. KBC Group NV increased its stake in Catalyst Pharmaceuticals by 48.8% in the fourth quarter. KBC Group NV now owns 4,699 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,542 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Catalyst Pharmaceuticals during the fourth quarter valued at about $134,000. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Price Performance

CPRX opened at $22.90 on Friday. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $24.64. The firm has a market capitalization of $2.73 billion, a P/E ratio of 19.41, a PEG ratio of 2.25 and a beta of 0.80. The company’s 50-day moving average is $22.07 and its 200 day moving average is $20.87.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens started coverage on Catalyst Pharmaceuticals in a research report on Monday, November 18th. They issued an “overweight” rating and a $35.00 target price for the company. Bank of America restated a “buy” rating and set a $30.00 price objective on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. Truist Financial increased their target price on Catalyst Pharmaceuticals from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 11th. Nine 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, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.25.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, Director Molly Harper sold 17,500 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $22.00, for a total value of $385,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steve Miller sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $21.93, for a total value of $1,096,500.00. Following the sale, the insider now directly owns 686,996 shares of the company’s stock, valued at approximately $15,065,822.28. This represents a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,500 shares of company stock worth $1,754,140. Insiders own 11.00% of the company’s stock.

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.