Citius Pharmaceuticals (NASDAQ:CTXR) Stock Price Down 0.7% – Here’s What Happened

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) shares traded down 0.7% during mid-day trading on Friday . The company traded as low as $0.5805 and last traded at $0.5810. Approximately 153,785 shares traded hands during trading, a decline of 75% from the average session volume of 627,080 shares. The stock had previously closed at $0.5853.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Zacks Research upgraded Citius Pharmaceuticals to a “hold” rating in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Wednesday, June 24th. Citigroup reaffirmed a “buy” rating on shares of Citius Pharmaceuticals in a report on Wednesday, August 19th. Finally, HC Wainwright reiterated a “buy” rating on shares of Citius Pharmaceuticals in a research note on Wednesday, August 19th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Citius Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Citius Pharmaceuticals Price Performance

The business’s 50 day moving average is $0.59 and its two-hundred day moving average is $0.67. The firm has a market capitalization of $15.95 million, a PE ratio of -0.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.84 and a quick ratio of 0.40.

Citius Pharmaceuticals (NASDAQ:CTXR) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. As a group, research analysts anticipate that Citius Pharmaceuticals, Inc. will post -2.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTXR. XTX Topco Ltd bought a new position in Citius Pharmaceuticals in the second quarter valued at $32,000. NewEdge Advisors LLC purchased a new stake in Citius Pharmaceuticals during the second quarter valued at about $40,000. Asset Advisory Group Inc. bought a new stake in Citius Pharmaceuticals during the fourth quarter worth about $46,000. Heights Capital Management Inc. purchased a new position in shares of Citius Pharmaceuticals in the 4th quarter worth about $622,000. Finally, BlackRock Inc. purchased a new position in shares of Citius Pharmaceuticals in the 2nd quarter worth about $42,000. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

Citius Pharmaceuticals Company Profile

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.