Bayforest Capital Ltd Takes Position in Catalyst Pharmaceuticals, Inc. $CPRX

Bayforest Capital Ltd acquired a new stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 9,582 shares of the biopharmaceutical company’s stock, valued at approximately $208,000.

Other large investors have also recently made changes to their positions in the company. Algert Global LLC lifted its holdings in Catalyst Pharmaceuticals by 1.0% in the 1st quarter. Algert Global LLC now owns 48,390 shares of the biopharmaceutical company’s stock worth $1,173,000 after purchasing an additional 470 shares in the last quarter. Hancock Whitney Corp lifted its holdings in Catalyst Pharmaceuticals by 1.4% in the 1st quarter. Hancock Whitney Corp now owns 38,847 shares of the biopharmaceutical company’s stock worth $942,000 after purchasing an additional 525 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Catalyst Pharmaceuticals by 26.2% in the 1st quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 579 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in Catalyst Pharmaceuticals by 3.6% in the 1st quarter. Hohimer Wealth Management LLC now owns 18,070 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 629 shares in the last quarter. Finally, Vestcor Inc lifted its holdings in Catalyst Pharmaceuticals by 3.0% in the 1st quarter. Vestcor Inc now owns 28,705 shares of the biopharmaceutical company’s stock worth $696,000 after purchasing an additional 840 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPRX has been the topic of a number of research analyst reports. Zacks Research cut Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.20.

Catalyst Pharmaceuticals Price Performance

NASDAQ:CPRX opened at $20.53 on Friday. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.85 and a beta of 0.79. The stock’s 50 day simple moving average is $20.23 and its two-hundred day simple moving average is $21.96. Catalyst Pharmaceuticals, Inc. has a 1 year low of $19.05 and a 1 year high of $26.58.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last released its earnings results on Monday, September 25th. The biopharmaceutical company reported $0.28 earnings per share for the quarter. The firm had revenue of $53.11 million for the quarter. Catalyst Pharmaceuticals had a return on equity of 40.78% and a net margin of 37.36%. As a group, analysts anticipate that Catalyst Pharmaceuticals, Inc. will post 1.9 EPS for the current year.

Catalyst Pharmaceuticals declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director David S. Tierney sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $20.20, for a total transaction of $525,200.00. Following the transaction, the director owned 379,620 shares of the company’s stock, valued at approximately $7,668,324. The trade was a 6.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Elsbernd sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $20.30, for a total value of $609,000.00. Following the transaction, the insider directly owned 271,039 shares in the company, valued at approximately $5,502,091.70. This represents a 9.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,970 shares of company stock worth $4,927,241. 10.40% of the stock is owned by company insiders.

Catalyst Pharmaceuticals 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.