Envestnet Portfolio Solutions Inc. Has $507,000 Stake in Catalyst Pharmaceuticals, Inc. $CPRX

Envestnet Portfolio Solutions Inc. increased its stake in shares of Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 169.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,376 shares of the biopharmaceutical company’s stock after acquiring an additional 14,686 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Catalyst Pharmaceuticals were worth $507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPRX. GAMMA Investing LLC raised its holdings in shares of Catalyst Pharmaceuticals by 26.2% during the first quarter. GAMMA Investing LLC now owns 2,791 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 579 shares during the period. PNC Financial Services Group Inc. grew its position in Catalyst Pharmaceuticals by 57.2% in the first quarter. PNC Financial Services Group Inc. now owns 5,501 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 2,002 shares in the last quarter. US Bancorp DE grew its position in Catalyst Pharmaceuticals by 17.8% in the first quarter. US Bancorp DE now owns 7,328 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 1,105 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Catalyst Pharmaceuticals in the first quarter valued at $182,000. Finally, Headlands Technologies LLC bought a new position in Catalyst Pharmaceuticals in the first quarter valued at $188,000. 79.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Catalyst Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Zacks Research downgraded shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Catalyst Pharmaceuticals in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $33.20.

Catalyst Pharmaceuticals Price Performance

Shares of CPRX opened at $21.43 on Wednesday. The firm has a 50-day moving average of $20.29 and a 200-day moving average of $21.89. Catalyst Pharmaceuticals, Inc. has a one year low of $19.05 and a one year high of $26.58. The company has a market cap of $2.62 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 0.84 and a beta of 0.79.

Catalyst Pharmaceuticals (NASDAQ:CPRX) last announced its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.28 EPS for the quarter. Catalyst Pharmaceuticals had a net margin of 37.36% and a return on equity of 40.78%. The company had revenue of $53.11 million during the quarter. Analysts expect that Catalyst Pharmaceuticals, Inc. will post 1.9 earnings per share for the current year.

Catalyst Pharmaceuticals announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director David S. Tierney sold 26,000 shares of Catalyst Pharmaceuticals stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $20.20, for a total value of $525,200.00. Following the completion of the transaction, the director owned 379,620 shares of the company’s stock, valued at $7,668,324. This trade represents a 6.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard J. Daly sold 22,970 shares of Catalyst Pharmaceuticals stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $20.62, for a total transaction of $473,641.40. Following the completion of the transaction, the chief executive officer directly owned 226,794 shares of the company’s stock, valued at approximately $4,676,492.28. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,970 shares of company stock worth $4,927,241. Insiders own 10.40% of the company’s stock.

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.