Citius Pharmaceuticals (NASDAQ:CTXR) Stock Price Breaks Above 50 Day Moving Average – Here’s Why

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $0.54 and traded as high as $0.55. Citius Pharmaceuticals shares last traded at $0.5411, with a volume of 201,092 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on CTXR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Monday, September 21st. HC Wainwright reissued a “buy” rating on shares of Citius Pharmaceuticals in a research note on Wednesday, August 19th. Finally, Citigroup restated a “buy” rating on shares of Citius Pharmaceuticals in a report on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Citius Pharmaceuticals currently has an average rating of “Hold” and an average target price of $6.00.

Citius Pharmaceuticals Stock Down 7.1%

The firm’s 50 day moving average price is $0.54 and its 200 day moving average price is $0.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.40 and a current ratio of 0.84.

Citius Pharmaceuticals (NASDAQ:CTXR) last posted its earnings results on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. On average, equities analysts anticipate that Citius Pharmaceuticals, Inc. will post -2.03 earnings per share for the current year.

Institutional Investors Weigh In On Citius Pharmaceuticals

An institutional investor recently bought a new stake in Citius Pharmaceuticals stock. BlackRock Inc. bought a new stake in shares of Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,850 shares of the company’s stock, valued at approximately $42,000. BlackRock Inc. owned approximately 0.25% of Citius Pharmaceuticals as of its most recent SEC filing. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

Citius Pharmaceuticals Company Profile

Citius Pharmaceuticals, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for critical care, oncology and other areas with significant unmet medical needs. The company is headquartered in Cranford, New Jersey, and has primarily focused its development and commercialization activities on the U.S. healthcare market.

Citius’ lead product candidate has been Mino-Lok, an antibiotic lock solution designed to help salvage infected central venous catheters by treating catheter-related bloodstream infections while allowing the catheter to remain in place.