Barclays PLC Increases Stake in Catalyst Pharmaceuticals, Inc.

Barclays PLC has significantly increased its investment in Catalyst Pharmaceuticals, Inc. (NASDAQ:CPRX). During the third quarter, Barclays raised its stake by an impressive 129.4%, owning a total of 248,458 shares after acquiring an additional 140,129 shares. By the end of the latest reporting period, the value of Barclays' holdings in Catalyst Pharmaceuticals was approximately $4,939,000.

Other institutional investors have also been active in adjusting their positions in Catalyst Pharmaceuticals. For instance, GAMMA Investing LLC increased its holdings by 62.1% in the same quarter, now owning 1,778 shares valued at $35,000 after purchasing 681 additional shares. nVerses Capital LLC established a new position in Catalyst Pharmaceuticals during the third quarter, estimated to be worth $50,000. Similarly, Larson Financial Group LLC greatly increased its shares by a staggering 27,218.2%, owning 3,005 shares worth $60,000 after adding 2,994 shares. Additionally, Meeder Asset Management Inc. made a new investment during the second quarter valued at $70,000, while Quantbot Technologies LP also acquired a new position in the third quarter worth $151,000. Overall, institutional investors and hedge funds collectively own 79.22% of Catalyst Pharmaceuticals.

Analysts' Outlook on Catalyst Pharmaceuticals

Several Wall Street analysts have recently shared their views on Catalyst Pharmaceuticals. Stephens began coverage of the company, issuing an 'overweight' rating along with a price target of $35.00. HC Wainwright reaffirmed a 'buy' rating with a price target of $30.00 in their report. Truist Financial also raised their price target from $30.00 to $36.00, maintaining a 'buy' rating on the stock. Currently, seven analysts have given the stock a buy rating, while one has assigned a strong buy rating. According to MarketBeat data, the consensus rating for the company is 'Buy' with a consensus target price of $31.14.

Latest Stock Performance of Catalyst Pharmaceuticals

The stock of Catalyst Pharmaceuticals (NASDAQ: CPRX) opened at $21.27. The company boasts a market capitalization of $2.54 billion, a price-to-earnings (PE) ratio of 18.03, and a price-to-earnings-growth (PEG) ratio of 3.35. The stock has a beta of 0.75, indicating lower volatility compared to the market. The 50-day simple moving average stands at $21.77, with a 200-day simple moving average of $19.33. Over the past year, Catalyst Pharmaceuticals experienced a low of $13.12 and a high of $24.27.

Recent Insider Transactions

In other developments, insider Gary Ingenito sold 12,000 shares of Catalyst Pharmaceuticals on November 27 at an average price of $22.72, amounting to a total of $272,640. After this sale, Ingenito's remaining shares total 51,391, valued at approximately $1,167,603.52, representing an 18.93% reduction in his ownership position. Additionally, insider Steve Miller sold 50,000 shares on December 10 at an average price of $21.93, culminating in a total transaction value of $1,096,500. Post-transaction, Miller retains ownership of 686,996 shares worth $15,065,822.28, reflecting a 6.78% decrease in shares held. In total, insiders sold 79,500 shares valued at $1,754,140 over the last quarter, with insiders now holding 11.00% of the company's shares.

About Catalyst Pharmaceuticals

Catalyst Pharmaceuticals, Inc. is a biopharmaceutical company focused on developing and commercializing therapies for chronic and debilitating neuromuscular and neurological diseases. The company’s main products include Firdapse, which is used in treating Lambert-Eaton myasthenic syndrome (LEMS), and Ruzurgi, aimed at treating pediatric patients with LEMS.

Barclays, Investment, Analysts