Hsbc Holdings PLC Trims Stake in Catalyst Pharmaceuticals, Inc. $CPRX

Hsbc Holdings PLC lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 41.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 33,629 shares of the biopharmaceutical company’s stock after selling 24,300 shares during the period. Hsbc Holdings PLC’s holdings in Catalyst Pharmaceuticals were worth $826,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPRX. WINTON GROUP Ltd lifted its position in shares of Catalyst Pharmaceuticals by 546.7% in the fourth quarter. WINTON GROUP Ltd now owns 353,529 shares of the biopharmaceutical company’s stock valued at $8,251,000 after acquiring an additional 298,862 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth about $654,000. Wakefield Asset Management LLLP purchased a new stake in Catalyst Pharmaceuticals during the 4th quarter worth about $1,203,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Catalyst Pharmaceuticals by 30.0% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,763 shares of the biopharmaceutical company’s stock valued at $3,913,000 after purchasing an additional 38,695 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in Catalyst Pharmaceuticals by 21.2% in the 4th quarter. Stratos Wealth Advisors LLC now owns 117,721 shares of the biopharmaceutical company’s stock valued at $2,748,000 after purchasing an additional 20,628 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

NASDAQ CPRX opened at $31.49 on Thursday. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $32.56. The company has a 50-day moving average of $31.40 and a 200-day moving average of $27.51. The company has a market cap of $3.86 billion, a P/E ratio of 18.10, a P/E/G ratio of 0.96 and a beta of 0.74.

Analysts Set New Price Targets

CPRX has been the topic of several analyst reports. Stephens set a $32.00 price target on shares of Catalyst Pharmaceuticals in a research note on Thursday, May 7th. Oppenheimer lowered shares of Catalyst Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. HC Wainwright downgraded shares of Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $31.50 in a research note on Thursday, May 28th. Citigroup lowered shares of Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $31.50 in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Catalyst Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $32.00.

About Catalyst Pharmaceuticals

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).