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

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CTXR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Citius Pharmaceuticals in a report on Wednesday, June 24th. Zacks Research raised Citius Pharmaceuticals to a “hold” rating in a report on Tuesday, May 19th. HC Wainwright reiterated a “buy” rating on shares of Citius Pharmaceuticals in a research report on Wednesday, August 19th. Wall Street Zen lowered Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, Citigroup reiterated a “buy” rating on shares of Citius Pharmaceuticals in a research report on Wednesday, August 19th. Three equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Citius Pharmaceuticals Stock Performance

The stock has a market cap of $15.95 million, a P/E 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. The stock’s 50 day simple moving average is $0.59 and its two-hundred day simple moving average is $0.67.

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

Institutional Investors Weigh In On Citius Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in CTXR. BlackRock Inc. acquired a new stake in shares of Citius Pharmaceuticals during the 2nd quarter worth about $42,000. XTX Topco Ltd increased its stake in Citius Pharmaceuticals by 572.8% during the 4th quarter. XTX Topco Ltd now owns 107,118 shares of the company’s stock worth $83,000 after acquiring an additional 91,196 shares during the period. Heights Capital Management Inc. bought a new position in shares of Citius Pharmaceuticals in the fourth quarter worth $622,000. Asset Advisory Group Inc. bought a new position in Citius Pharmaceuticals in the 4th quarter valued at about $46,000. Finally, NewEdge Advisors LLC bought a new position in Citius Pharmaceuticals in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 16.88% of the company’s stock.

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.