Catalyst Pharmaceuticals, Inc. $CPRX Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 178.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,934 shares of the biopharmaceutical company’s stock after purchasing an additional 43,565 shares during the period. Texas Permanent School Fund Corp’s holdings in Catalyst Pharmaceuticals were worth $1,474,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dakota Community Bank & Trust NA acquired a new stake in shares of Catalyst Pharmaceuticals during the 2nd quarter worth $81,000. Osaic Holdings Inc. boosted its position in Catalyst Pharmaceuticals by 304.0% during the 2nd quarter. Osaic Holdings Inc. now owns 44,273 shares of the biopharmaceutical company’s stock worth $1,012,000 after purchasing an additional 33,314 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Catalyst Pharmaceuticals by 2.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 84,309 shares of the biopharmaceutical company’s stock valued at $1,830,000 after purchasing an additional 1,957 shares in the last quarter. State of Wyoming lifted its position in shares of Catalyst Pharmaceuticals by 43.6% during the second quarter. State of Wyoming now owns 18,155 shares of the biopharmaceutical company’s stock worth $394,000 after purchasing an additional 5,508 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Catalyst Pharmaceuticals by 321.3% during the second quarter. Nomura Holdings Inc. now owns 88,821 shares of the biopharmaceutical company’s stock worth $1,927,000 after purchasing an additional 67,738 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. Oppenheimer reiterated an “outperform” rating and set a $33.00 target price on shares of Catalyst Pharmaceuticals in a research note on Friday, November 7th. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a report on Wednesday, December 17th. Finally, Citigroup lifted their target price on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $32.67.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other Catalyst Pharmaceuticals news, insider Carmen Jeffrey Del sold 10,983 shares of Catalyst Pharmaceuticals 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 sale, the insider owned 3,962 shares of the company’s stock, valued at $92,433.46. The trade was a 73.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Molly Harper sold 26,746 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $23.25, for a total value of $621,844.50. Following the transaction, the director owned 2,360 shares of the company’s stock, valued at $54,870. This trade represents a 91.89% decrease in their position. The SEC filing for this sale provides additional information. 10.40% of the stock is owned by insiders.

Catalyst Pharmaceuticals Stock Down 0.3%

Catalyst Pharmaceuticals stock opened at $24.23 on Wednesday. Catalyst Pharmaceuticals, Inc. has a 52-week low of $19.05 and a 52-week high of $26.58. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 0.69. The firm has a 50-day moving average price of $22.46 and a two-hundred day moving average price of $21.55.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its quarterly earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The company had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%. Research analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 1st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Catalyst Pharmaceuticals 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).