Richard P Slaughter Associates Inc Sells 35,844 Shares of Catalyst Pharmaceuticals, Inc. $CPRX

Richard P Slaughter Associates Inc lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 63.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,036 shares of the biopharmaceutical company’s stock after selling 35,844 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Catalyst Pharmaceuticals were worth $414,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CPRX. American Century Companies Inc. boosted its holdings 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 in the last quarter. Nuveen LLC bought a new position in Catalyst Pharmaceuticals in the first quarter valued at about $17,185,000. MetLife Investment Management LLC boosted its stake in shares of Catalyst Pharmaceuticals by 963.5% during the first quarter. MetLife Investment Management LLC now owns 724,091 shares of the biopharmaceutical company’s stock valued at $17,559,000 after purchasing an additional 656,004 shares in the last quarter. Swedbank AB bought a new stake in shares of Catalyst Pharmaceuticals during the first quarter worth about $14,941,000. Finally, Bank of America Corp DE grew its holdings in shares of 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. 79.22% of the stock is currently owned by institutional investors.

Catalyst Pharmaceuticals Trading Down 1.4%

Shares of CPRX opened at $23.67 on Friday. The stock has a market capitalization of $2.91 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.85 and a beta of 0.69. The firm’s fifty day simple moving average is $22.24 and its two-hundred day simple moving average is $21.62. Catalyst Pharmaceuticals, Inc. has a 12 month low of $19.05 and a 12 month high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. Catalyst Pharmaceuticals had a return on equity of 39.24% and a net margin of 37.63%.The firm had revenue of $53.11 million during the quarter. As a group, research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current fiscal year.

Catalyst Pharmaceuticals declared that its board has initiated a share buyback program on Wednesday, October 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price objective on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a report on Wednesday. Wall Street Zen upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Finally, Citigroup lifted their target price on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Catalyst Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $32.67.

Insider Activity at Catalyst Pharmaceuticals

In related news, insider Carmen Jeffrey Del sold 10,983 shares of the stock in a transaction on Wednesday, November 26th. The shares were 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 of the company’s stock, valued at $92,433.46. This represents a 73.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Molly Harper sold 26,746 shares of the firm’s 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 sale, the director owned 2,360 shares of the company’s stock, valued at $54,870. The trade was a 91.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.40% of the stock is currently owned by insiders.

Catalyst Pharmaceuticals Profile

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.