Allianz Asset Management GmbH Lowers Position in Catalyst Pharmaceuticals, Inc. $CPRX

Allianz Asset Management GmbH lessened its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 23.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 797,948 shares of the biopharmaceutical company’s stock after selling 239,863 shares during the period. Allianz Asset Management GmbH’s holdings in Catalyst Pharmaceuticals were worth $15,720,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank lifted its position in shares of Catalyst Pharmaceuticals by 105.0% during the 2nd quarter. Huntington National Bank now owns 1,433 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 734 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Catalyst Pharmaceuticals by 14.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 4,061 shares of the biopharmaceutical company’s stock worth $79,000 after acquiring an additional 498 shares during the period. Dakota Community Bank & Trust NA purchased a new position in Catalyst Pharmaceuticals during the second quarter valued at approximately $81,000. Vinva Investment Management Ltd bought a new position in shares of Catalyst Pharmaceuticals in the second quarter worth approximately $206,000. Finally, Bayforest Capital Ltd bought a new position in shares of Catalyst Pharmaceuticals in the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Catalyst Pharmaceuticals in a research report on Monday, December 29th. Citigroup increased their price target on Catalyst Pharmaceuticals from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Oppenheimer reissued an “outperform” rating and set a $33.00 price target on shares of Catalyst Pharmaceuticals in a report on Friday, November 7th. Finally, Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $33.20.

Catalyst Pharmaceuticals Stock Performance

Shares of NASDAQ:CPRX opened at $24.44 on Friday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 0.82 and a beta of 0.74. The firm has a fifty day moving average price of $23.59 and a 200 day moving average price of $21.87. Catalyst Pharmaceuticals, Inc. has a fifty-two week low of $19.05 and a fifty-two week high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.50 by $0.18. Catalyst Pharmaceuticals had a net margin of 37.63% and a return on equity of 39.24%. The business had revenue of $148.39 million for the quarter, compared to analysts’ expectations of $136.79 million. As a group, research analysts predict that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Insider Activity

In related news, Director Molly Harper sold 26,746 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $23.25, for a total value of $621,844.50. Following the sale, the director directly owned 2,360 shares in the company, valued at approximately $54,870. The trade was a 91.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carmen Jeffrey Del sold 10,983 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $23.33, for a total value of $256,233.39. Following the transaction, the insider directly owned 3,962 shares of the company’s stock, valued at approximately $92,433.46. The trade was a 73.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 10.40% of the company’s stock.

Catalyst Pharmaceuticals Company Profile

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).