Prudential Financial Inc. raised its holdings in Catalyst Pharmaceuticals Inc (NASDAQ:CPRX) by 338.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 432,929 shares of the biopharmaceutical company’s stock after purchasing an additional 334,185 shares during the period. Prudential Financial Inc.’s holdings in Catalyst Pharmaceuticals were worth $1,662,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Paradigm Capital Management Inc. NY acquired a new stake in Catalyst Pharmaceuticals in the second quarter valued at approximately $77,000. Acadian Asset Management LLC purchased a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $293,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Catalyst Pharmaceuticals in the second quarter valued at approximately $55,000. JPMorgan Chase & Co. lifted its position in shares of Catalyst Pharmaceuticals by 2.0% in the second quarter. JPMorgan Chase & Co. now owns 956,946 shares of the biopharmaceutical company’s stock valued at $3,569,000 after acquiring an additional 18,470 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Catalyst Pharmaceuticals by 77.9% in the second quarter. Wells Fargo & Company MN now owns 117,692 shares of the biopharmaceutical company’s stock valued at $452,000 after acquiring an additional 51,532 shares in the last quarter. 59.81% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on CPRX shares. BidaskClub upgraded Catalyst Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 3rd. Cantor Fitzgerald raised their target price on Catalyst Pharmaceuticals from $10.00 to $12.00 in a research report on Thursday, August 8th. SunTrust Banks restated a “buy” rating and issued a $11.00 target price (up previously from $9.00) on shares of Catalyst Pharmaceuticals in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Catalyst Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $8.54.
Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Wednesday, August 7th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.07. The company had revenue of $28.84 million for the quarter, compared to analysts’ expectations of $17.99 million. During the same quarter in the previous year, the business posted ($0.06) EPS. The business’s quarterly revenue was up 2883900.0% compared to the same quarter last year. As a group, equities analysts forecast that Catalyst Pharmaceuticals Inc will post 0.34 earnings per share for the current year.
Catalyst Pharmaceuticals Profile
Catalyst Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies for people with rare debilitating, chronic neuromuscular, and neurological diseases. It offers Firdapse, a proprietary form of amifampridine phosphate for the treatment of patients with lambert-eaton myasthenic syndrome in the United States.
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