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

In addition, let’s take a look at the insider activity in Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX). There were no insider sales of shares so far this year. But there were quite a few insider purchases. The CEO of Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), McEnany, bought a total of 55,000 shares in January and April. Executive VP David Muth bought 24,700 shares in the last few months and Lead Independent Director Charles O’Keefe acquired 25,000 shares during the same period.

What have hedge funds been doing with Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX)?

According to Insider Monkey’s database, Julian Baker and Felix Baker’s Baker Bros. Advisors had the largest position in Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), with 7.56 million shares worth close to $32.8 million, accounting for 0.3% of its total 13F portfolio. Following Baker Bros. Advisors is Steve Cohen’s Point72 Asset Management holding around 6.57 million shares valued at $28.4 million. Some other investors that are bullish on the company include Mitchell Blutt’s Consonance Capital Management, Kevin Kotler’s Broadfin Capital and Joseph Edelman’s Perceptive Advisors.

Some hedge fund managers were more bullish on the stock by initiating new positions during the first quarter. Leading the way is Consonance Capital Management, managed by Mitchell Blutt, who added around 4.85 million shares of Catalyst Pharmaceutical Partners worth $21 million as of the end of March. Joseph Edelman’s Perceptive Advisors also initiated a position in the stock by acquiring 1.2 million shares. Some other funds with new positions are Michael Platt and William Reeves’s BlueCrest Capital Mgmt., Israel Englander‘s Millennium Management, and Jim Simons’ Renaissance Technologies.

Hedge funds started pouring more money into Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) in the first quarter, which shows that big investors are starting to like this stock. In addition, there were many insider acquisitions and no sales. The pharmaceutical company also announced promising results on its proof-of-concept trial for treating Tourette’s Disorder. We recommend to buy this stock as all the indicators show positive signs.

Disclosure: None