Bank of New York Mellon Corp Trims Stock Position in Catalyst Pharmaceuticals, Inc. $CPRX

Bank of New York Mellon Corp decreased its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 2.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 682,289 shares of the biopharmaceutical company’s stock after selling 18,372 shares during the period. Bank of New York Mellon Corp’s holdings in Catalyst Pharmaceuticals were worth $16,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its stake in Catalyst Pharmaceuticals by 55.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,764 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 630 shares in the last quarter. Clearstead Advisors LLC lifted its position in Catalyst Pharmaceuticals by 192.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,772 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 1,167 shares during the last quarter. Larson Financial Group LLC boosted its stake in Catalyst Pharmaceuticals by 552.7% in the fourth quarter. Larson Financial Group LLC now owns 1,847 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,564 shares in the last quarter. Advisory Services Network LLC acquired a new position in Catalyst Pharmaceuticals in the third quarter valued at $39,000. Finally, Quarry LP purchased a new position in shares of Catalyst Pharmaceuticals during the third quarter worth about $40,000. 79.22% of the stock is owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Price Performance

Shares of NASDAQ:CPRX opened at $31.49 on Thursday. The company has a market cap of $3.86 billion, a P/E ratio of 18.10, a PEG ratio of 0.96 and a beta of 0.74. Catalyst Pharmaceuticals, Inc. has a 52 week low of $19.05 and a 52 week high of $32.56. The company has a 50-day moving average price of $31.40 and a 200 day moving average price of $27.51.

Analyst Ratings Changes

A number of analysts have recently commented on CPRX shares. Weiss Ratings upgraded Catalyst Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen downgraded Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research lowered Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Oppenheimer cut Catalyst Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 7th. Finally, HC Wainwright lowered shares of Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $31.50 in a research report on Thursday, May 28th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

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).