Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) Stake Reduced by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 84.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,387 shares of the biopharmaceutical company’s stock after selling 73,786 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Catalyst Pharmaceuticals were worth $225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its stake in Catalyst Pharmaceuticals by 260.2% during the 1st quarter. Advisory Services Network LLC now owns 1,801 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 1,301 shares during the period. FMR LLC grew its holdings in Catalyst Pharmaceuticals by 24.2% in the 2nd quarter. FMR LLC now owns 4,218 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 822 shares in the last quarter. Covestor Ltd increased its position in Catalyst Pharmaceuticals by 768.0% in the 1st quarter. Covestor Ltd now owns 4,878 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 4,316 shares during the period. Nisa Investment Advisors LLC raised its stake in Catalyst Pharmaceuticals by 306.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,079 shares of the biopharmaceutical company’s stock valued at $85,000 after acquiring an additional 3,829 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Catalyst Pharmaceuticals during the 1st quarter worth $62,000. Institutional investors and hedge funds own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX opened at $16.00 on Thursday. Catalyst Pharmaceuticals, Inc. has a 12-month low of $11.09 and a 12-month high of $18.22. The stock has a market capitalization of $1.89 billion, a P/E ratio of 26.23, a P/E/G ratio of 0.85 and a beta of 0.89. The firm’s 50 day moving average is $15.34 and its 200-day moving average is $14.50.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last posted its quarterly earnings results on Wednesday, February 28th. The biopharmaceutical company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. Catalyst Pharmaceuticals had a return on equity of 26.56% and a net margin of 17.93%. The company had revenue of $110.57 million for the quarter, compared to analysts’ expectations of $105.78 million. As a group, equities research analysts forecast that Catalyst Pharmaceuticals, Inc. will post 1.81 EPS for the current fiscal year.

Insider Activity

In related news, insider Brian Elsbernd sold 25,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $16.44, for a total value of $411,000.00. Following the transaction, the insider now owns 124,433 shares of the company’s stock, valued at approximately $2,045,678.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $24.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, March 1st. Citigroup began coverage on shares of Catalyst Pharmaceuticals in a research note on Thursday, March 14th. They set a “buy” rating and a $27.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $34.00 price target on shares of Catalyst Pharmaceuticals in a research note on Friday, March 22nd. TheStreet upgraded shares of Catalyst Pharmaceuticals from a “c+” rating to a “b” rating in a research note on Tuesday, March 12th. Finally, Bank of America initiated coverage on Catalyst Pharmaceuticals in a report on Thursday, March 7th. They set a “buy” rating and a $23.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $26.43.

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.