Hillsdale Investment Management Inc. Lowers Stock Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

Hillsdale Investment Management Inc. reduced its holdings in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 8.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,500 shares of the biopharmaceutical company’s stock after selling 21,300 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.20% of Catalyst Pharmaceuticals worth $4,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CPRX. American Century Companies Inc. increased its stake in shares of Catalyst Pharmaceuticals by 233.9% during the 2nd quarter. American Century Companies Inc. now owns 1,757,988 shares of the biopharmaceutical company’s stock valued at $38,148,000 after acquiring an additional 1,231,419 shares during the last quarter. Bank of America Corp DE increased its position in Catalyst Pharmaceuticals by 30.6% during the second quarter. Bank of America Corp DE now owns 2,365,675 shares of the biopharmaceutical company’s stock worth $51,335,000 after purchasing an additional 554,200 shares during the last quarter. Orbimed Advisors LLC acquired a new position in Catalyst Pharmaceuticals during the second quarter worth approximately $9,047,000. Raymond James Financial Inc. raised its stake in Catalyst Pharmaceuticals by 91.8% during the second quarter. Raymond James Financial Inc. now owns 845,048 shares of the biopharmaceutical company’s stock worth $18,338,000 after purchasing an additional 404,525 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Catalyst Pharmaceuticals by 11.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,135,473 shares of the biopharmaceutical company’s stock valued at $76,035,000 after purchasing an additional 333,100 shares during the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Carmen Jeffrey Del sold 10,983 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $23.33, for a total transaction of $256,233.39. Following the transaction, the insider directly owned 3,962 shares in the company, valued at $92,433.46. This trade represents a 73.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Molly Harper sold 26,746 shares of Catalyst Pharmaceuticals stock in a transaction on Friday, December 12th. The stock was sold at an average price of $23.25, for a total transaction of $621,844.50. Following the completion of the transaction, the director directly owned 2,360 shares of the company’s stock, valued at approximately $54,870. This represents a 91.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CPRX shares. Oppenheimer restated an “outperform” rating and set a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. Citigroup upped their price target on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $33.20.

Catalyst Pharmaceuticals Stock Performance

CPRX stock opened at $24.30 on Friday. The firm has a market cap of $2.99 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.74. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58. The stock has a 50-day simple moving average of $23.83 and a 200-day simple moving average of $22.08.

Catalyst Pharmaceuticals Company Profile

Catalyst Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for patients living with rare neuromuscular, neurological and metabolic diseases. The company’s mission centers on delivering safe and effective treatments that address unmet medical needs in small patient populations.

The company’s lead product is Firdapse® (amifampridine phosphate), a treatment approved by the U.S. Food and Drug Administration for adults with Lambert-Eaton Myasthenic Syndrome (LEMS).