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Is Catalyst Pharmaceutical Partners, Inc. (CPRX) a “Buy” after Its Promising Results In Proof-Of-Concept Trial Of Vigabatrin

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Earlier today Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) has announced promising top-line results in proof-of-concept trial of its CPP-109 (Vigabatrin). CPP-109 is used to treat people with Tourette’s Disorder (TD) that were refractory to the previous treatments. Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) stated that one out of four patients indicated a clear reduction in tics, whereas two other patients demonstrated 25% reduction in tics. The company’s CEO Patrick McEnanyEnany pointed out that CPP-109’s mechanism of actions validates the potential of CPP-115 for treatment of Tourette’s disorder in the future. As the news about the results broke out, the stock jumped almost 18%, but then retracted to around 4%. In addition to this, MLV & Co has initiated coverage on the stock with a ‘Buy’ rating and a price target of $14, which represents a whopping 250% premium over the closing price on Tuesday. What do hedge funds think about Catalyst Pharmaceutical? Is it a buy at the moment?


Why do we keep track of hedge fund and insider activity surrounding a stock? Because hedge fund sentiment can give us a different perspective and help us in reading the minds of experienced hedge fund managers. Closely following the hedge fund preferences and activities can help investors pick stocks that can give them better returns. On the other hand insider activity cannot be ignored, as insiders have that little bit of extra information about the stock when compared to portfolio managers or analysts.

We don’t just follow the latest moves of hedge funds. We are, in fact, more interested in their 13F filings, which we use to determine the top 15 small-cap stocks held by the funds we track. We gather and share this information based on 16 years of research which showed that these 15 most popular small-cap picks have a great potential to outperform the market, beating the S&P 500 Total Return Index by nearly one percentage point per month in backtests, and easily beating the most popular large-cap picks of funds, which nonetheless get the majority of their collective capital. Why pay fees to invest in both the best and worst ideas of a particular hedge fund when you can simply mimic only the very best ideas of the best fund managers on your own? Since the beginning of forward testing in August 2012, the Insider Monkey small-cap strategy has outperformed the market every year, returning 142%, beating the S&P 500 by almost 2.5 times during the same period (see more details).

For Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), the number of hedge funds holding long positions jumped to 12 by the end of first quarter from 11 a quarter earlier. In addition, the aggregate capital invested by these hedge funds in Catalyst also soared by 132% during the first quarter to $108.6 million, while the stock gained only 48% during the same period. This shows that many hedge funds made bullish bets on the stock during the first quarter.

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