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

Pacer Advisors Inc. lowered its position in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX) by 8.1% in the first quarter, HoldingsChannel reports. The fund owned 361,794 shares of the biopharmaceutical company’s stock after selling 31,939 shares during the quarter. Pacer Advisors Inc.’s holdings in Catalyst Pharmaceuticals were worth $8,958,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cim Investment Management Inc. acquired a new stake in shares of Catalyst Pharmaceuticals during the 1st quarter valued at about $310,000. Bank of America Corp DE raised its holdings in Catalyst Pharmaceuticals by 38.0% in the 1st quarter. Bank of America Corp DE now owns 3,036,546 shares of the biopharmaceutical company’s stock worth $75,185,000 after purchasing an additional 836,704 shares during the period. Janus Henderson Group PLC raised its holdings in Catalyst Pharmaceuticals by 16.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,998,875 shares of the biopharmaceutical company’s stock worth $49,520,000 after purchasing an additional 279,108 shares during the period. Amundi boosted its position in Catalyst Pharmaceuticals by 68.4% during the first quarter. Amundi now owns 31,463 shares of the biopharmaceutical company’s stock worth $779,000 after purchasing an additional 12,778 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Catalyst Pharmaceuticals by 27.9% during the first quarter. California State Teachers Retirement System now owns 140,716 shares of the biopharmaceutical company’s stock worth $3,484,000 after purchasing an additional 30,717 shares in the last quarter. 79.22% of the stock is owned by hedge funds and other institutional investors.

Catalyst Pharmaceuticals Stock Performance

CPRX stock opened at $31.49 on Wednesday. Catalyst Pharmaceuticals, Inc. has a 12-month low of $19.05 and a 12-month high of $32.56. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 0.96 and a beta of 0.74. The business’s 50-day moving average is $31.42 and its 200 day moving average is $27.76.

Analysts Set New Price Targets

CPRX has been the topic of several research analyst reports. Citigroup lowered Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $35.00 to $31.50 in a report on Friday, May 8th. HC Wainwright lowered Catalyst Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $31.50 in a research report on Thursday, May 28th. Robert W. Baird cut shares of Catalyst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Catalyst Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Stephens set a $32.00 price objective on shares of Catalyst Pharmaceuticals in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Catalyst Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $32.00.

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).