Vestcor Inc Reduces Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Vestcor Inc lessened its holdings in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 53.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,865 shares of the biopharmaceutical company’s stock after selling 32,566 shares during the period. Vestcor Inc’s holdings in Catalyst Pharmaceuticals were worth $582,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at about $27,000. Farther Finance Advisors LLC grew its stake in Catalyst Pharmaceuticals by 125.1% during the 4th quarter. Farther Finance Advisors LLC now owns 2,690 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 1,495 shares in the last quarter. Larson Financial Group LLC grew its stake in Catalyst Pharmaceuticals by 27,218.2% during the 3rd quarter. Larson Financial Group LLC now owns 3,005 shares of the biopharmaceutical company’s stock valued at $60,000 after acquiring an additional 2,994 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter valued at about $65,000. Finally, KBC Group NV boosted its holdings in Catalyst Pharmaceuticals by 48.8% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPRX. Stephens reiterated an “overweight” rating and issued a $33.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, February 27th. Bank of America reiterated a “buy” rating and issued a $30.00 target price on shares of Catalyst Pharmaceuticals in a report on Thursday, January 9th. HC Wainwright reiterated a “buy” rating and issued a $35.00 target price on shares of Catalyst Pharmaceuticals in a report on Friday, February 28th. 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 report on Monday, March 3rd. Finally, Baird R W upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Catalyst Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $32.50.

Insiders Place Their Bets

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

Catalyst Pharmaceuticals Stock Performance

Shares of CPRX stock opened at $21.02 on Monday. The firm has a market cap of $2.55 billion, a P/E ratio of 17.81, a P/E/G ratio of 3.31 and a beta of 0.84. Catalyst Pharmaceuticals, Inc. has a one year low of $14.47 and a one year high of $24.64. The firm’s 50 day moving average price is $22.26 and its 200-day moving average price is $21.53.

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.