Nuveen Asset Management LLC Boosts Position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX)

Nuveen Asset Management LLC boosted its position in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,304,391 shares of the biopharmaceutical company’s stock after acquiring an additional 165,249 shares during the quarter. Nuveen Asset Management LLC owned 1.09% of Catalyst Pharmaceuticals worth $27,223,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPRX. Castlekeep Investment Advisors LLC purchased a new stake in Catalyst Pharmaceuticals during the fourth quarter valued at $37,494,000. Bank of America Corp DE increased its position in Catalyst Pharmaceuticals by 139.5% in the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock worth $32,741,000 after buying an additional 913,843 shares in the last quarter. abrdn plc purchased a new stake in Catalyst Pharmaceuticals in the fourth quarter worth about $10,115,000. Arrowstreet Capital Limited Partnership increased its position in Catalyst Pharmaceuticals by 131.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 698,152 shares of the biopharmaceutical company’s stock worth $14,570,000 after buying an additional 396,506 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Catalyst Pharmaceuticals by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 8,431,094 shares of the biopharmaceutical company’s stock worth $175,957,000 after buying an additional 390,116 shares in the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Insider Transactions at Catalyst Pharmaceuticals

In related news, insider Gary Ingenito sold 44,904 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $22.09, for a total transaction of $991,929.36. Following the completion of the transaction, the insider now directly owns 68,873 shares of the company’s stock, valued at approximately $1,521,404.57. This represents a 39.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Elsbernd sold 62,975 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $22.98, for a total value of $1,447,165.50. Following the transaction, the insider now directly owns 188,564 shares of the company’s stock, valued at approximately $4,333,200.72. The trade was a 25.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,879 shares of company stock valued at $8,214,815 over the last 90 days. Company insiders own 10.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CPRX. Robert W. Baird upped their price target on Catalyst Pharmaceuticals from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Baird R W upgraded Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Monday, February 3rd. HC Wainwright restated a “buy” rating and issued a $35.00 price target on shares of Catalyst Pharmaceuticals in a research report on Friday, February 28th. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $33.00 price target on shares of Catalyst Pharmaceuticals in a research report on Thursday, February 27th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $32.29.

Catalyst Pharmaceuticals Stock Down 0.9%

NASDAQ CPRX opened at $24.11 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.31 and a beta of 0.70. The business has a 50-day moving average price of $23.49 and a 200-day moving average price of $22.54. Catalyst Pharmaceuticals, Inc. has a twelve month low of $14.75 and a twelve month high of $26.16.

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.