MetLife Investment Management LLC Has $17.56 Million Holdings in Catalyst Pharmaceuticals, Inc. $CPRX

MetLife Investment Management LLC boosted its stake in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 963.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 724,091 shares of the biopharmaceutical company’s stock after purchasing an additional 656,004 shares during the quarter. MetLife Investment Management LLC owned about 0.59% of Catalyst Pharmaceuticals worth $17,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Catalyst Pharmaceuticals by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,495,580 shares of the biopharmaceutical company’s stock worth $206,018,000 after acquiring an additional 64,486 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Catalyst Pharmaceuticals during the fourth quarter worth about $37,494,000. Bank of America Corp DE raised its stake in Catalyst Pharmaceuticals by 139.5% during the fourth quarter. Bank of America Corp DE now owns 1,568,791 shares of the biopharmaceutical company’s stock worth $32,741,000 after acquiring an additional 913,843 shares in the last quarter. Northern Trust Corp raised its stake in Catalyst Pharmaceuticals by 8.7% during the fourth quarter. Northern Trust Corp now owns 1,503,566 shares of the biopharmaceutical company’s stock worth $31,379,000 after acquiring an additional 119,766 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Catalyst Pharmaceuticals by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,326,771 shares of the biopharmaceutical company’s stock worth $32,174,000 after acquiring an additional 79,846 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

Insider Buying and Selling at Catalyst Pharmaceuticals

In other news, insider Preethi Sundaram sold 1,600 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $26.42, for a total transaction of $42,272.00. Following the sale, the insider directly owned 41,081 shares in the company, valued at approximately $1,085,360.02. The trade was a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CPRX. Zacks Research downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Cantor Fitzgerald raised Catalyst Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, June 5th. Finally, Wall Street Zen downgraded Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $33.20.

Catalyst Pharmaceuticals Trading Up 2.5%

NASDAQ:CPRX opened at $21.08 on Monday. The stock has a market cap of $2.58 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70. The stock’s 50-day moving average is $21.29 and its 200-day moving average is $22.60. Catalyst Pharmaceuticals, Inc. has a 1-year low of $19.00 and a 1-year high of $26.58.

Catalyst Pharmaceuticals Company 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.