Citius Pharmaceuticals (NASDAQ:CTXR) Shares Down 3.4% – Here’s Why

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR)’s stock price dropped 3.4% on Tuesday . The company traded as low as $0.8313 and last traded at $0.8449. Approximately 323,812 shares were traded during trading, a decline of 15% from the average daily volume of 380,205 shares. The stock had previously closed at $0.8742.

Analyst Upgrades and Downgrades

CTXR has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Friday, March 27th. D. Boral Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Citius Pharmaceuticals in a research note on Wednesday, March 11th. Finally, Wall Street Zen raised shares of Citius Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 27th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Citius Pharmaceuticals presently has an average rating of “Hold” and an average target price of $6.00.

Citius Pharmaceuticals Trading Up 8.5%

The firm has a market capitalization of $20.88 million, a price-to-earnings ratio of -0.38 and a beta of 1.38. The stock’s 50 day moving average price is $0.81 and its two-hundred day moving average price is $1.00.

Citius Pharmaceuticals (NASDAQ:CTXR) last issued its quarterly earnings data on Friday, February 13th. The company reported ($0.38) EPS for the quarter.

Institutional Investors Weigh In On Citius Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Citius Pharmaceuticals in the 2nd quarter valued at about $32,000. NewEdge Advisors LLC acquired a new stake in Citius Pharmaceuticals in the 2nd quarter valued at about $40,000. Asset Advisory Group Inc. acquired a new stake in Citius Pharmaceuticals in the 4th quarter valued at about $46,000. Finally, Heights Capital Management Inc. acquired a new stake in Citius Pharmaceuticals in the 4th quarter valued at about $622,000. 16.88% of the stock is owned by institutional investors and hedge funds.

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.