Citius Pharmaceuticals (NASDAQ:CTXR) Stock Price Up 7.1% – What’s Next?

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) shares rose 7.1% on Monday . The stock traded as high as $0.59 and last traded at $0.5786. 235,344 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 265,774 shares. The stock had previously closed at $0.54.

Wall Street Analysts Forecast Growth

CTXR has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and set a $4.00 price objective on shares of Citius Pharmaceuticals in a report on Monday, May 18th. Wall Street Zen downgraded Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Zacks Research upgraded Citius Pharmaceuticals to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Wednesday, June 24th. Finally, D. Boral Capital reiterated a “buy” rating and set a $6.00 price objective on shares of Citius Pharmaceuticals in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Citius Pharmaceuticals Trading Up 7.1%

The company has a market capitalization of $15.88 million, a PE ratio of -0.27 and a beta of 1.03. The company’s 50 day moving average price is $0.64 and its 200-day moving average price is $0.77.

Citius Pharmaceuticals (NASDAQ:CTXR) last issued its earnings results on Friday, May 15th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.67). As a group, analysts predict that Citius Pharmaceuticals, Inc. will post -1.87 earnings per share for the current year.

Hedge Funds Weigh In On Citius Pharmaceuticals

A number of large investors have recently modified their holdings of CTXR. Heights Capital Management Inc. purchased a new stake in shares of Citius Pharmaceuticals during the 4th quarter worth about $622,000. XTX Topco Ltd raised its holdings in Citius Pharmaceuticals by 572.8% in the fourth quarter. XTX Topco Ltd now owns 107,118 shares of the company’s stock valued at $83,000 after buying an additional 91,196 shares during the period. Asset Advisory Group Inc. acquired a new position in Citius Pharmaceuticals during the fourth quarter valued at approximately $46,000. Finally, NewEdge Advisors LLC acquired a new position in Citius Pharmaceuticals during the second quarter valued at approximately $40,000. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

About Citius Pharmaceuticals

Citius Pharmaceuticals is a clinical‐stage specialty pharmaceutical company focused on the development and commercialization of critical care products and novel drug delivery systems. Headquartered in Cranford, New Jersey, the company aims to address unmet medical needs in acute care, hospital‐acquired infections and subcutaneous delivery of biologics. Citius operates as a Delaware corporation and trades on the NASDAQ under the symbol CTXR.

One of the company’s leading assets is Mino-Lok, an antibiotic lock solution designed to treat catheter‐related bloodstream infections without catheter removal.