Pacer Advisors Inc. Cuts Position in Catalyst Pharmaceuticals, Inc. $CPRX

Pacer Advisors Inc. decreased its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 36.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,733 shares of the biopharmaceutical company’s stock after selling 227,068 shares during the period. Pacer Advisors Inc. owned approximately 0.32% of Catalyst Pharmaceuticals worth $9,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CPRX. Invesco Ltd. increased its holdings in Catalyst Pharmaceuticals by 4.9% in the fourth quarter. Invesco Ltd. now owns 1,293,478 shares of the biopharmaceutical company’s stock valued at $30,190,000 after buying an additional 60,221 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth approximately $630,000. Mackenzie Financial Corp acquired a new stake in shares of Catalyst Pharmaceuticals in the 4th quarter worth approximately $210,000. Empowered Funds LLC purchased a new position in Catalyst Pharmaceuticals in the 4th quarter valued at approximately $2,230,000. Finally, Odyssean LLC purchased a new position in Catalyst Pharmaceuticals in the 4th quarter valued at approximately $729,000. Hedge funds and other institutional investors own 79.22% of the company’s stock.

Catalyst Pharmaceuticals Price Performance

Shares of Catalyst Pharmaceuticals stock opened at $31.38 on Monday. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $32.56. The company has a market capitalization of $3.84 billion, a P/E ratio of 18.03, a P/E/G ratio of 0.95 and a beta of 0.74. The business has a 50 day moving average price of $29.80 and a 200 day moving average price of $25.93.

Analyst Ratings Changes

A number of analysts have commented on the company. Oppenheimer downgraded Catalyst Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Citigroup cut Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $35.00 to $31.50 in a research report on Friday, May 8th. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Friday, March 27th. Stephens set a $32.00 price target on Catalyst Pharmaceuticals in a research note on Thursday, May 7th. Finally, Truist Financial upgraded shares of Catalyst Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

About Catalyst Pharmaceuticals

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).