Citius Pharmaceuticals (NASDAQ:CTXR) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Citius Pharmaceuticals (NASDAQ:CTXR) released its earnings results on Friday. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.02, Zacks reports.

Citius Pharmaceuticals Stock Up 3.0%

CTXR traded up $0.02 during trading on Friday, reaching $0.76. The company had a trading volume of 588,654 shares, compared to its average volume of 840,297. The stock has a market cap of $20.74 million, a P/E ratio of -0.35 and a beta of 1.03. Citius Pharmaceuticals has a 52 week low of $0.47 and a 52 week high of $2.19. The business has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.69.

Institutional Trading of Citius Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Heights Capital Management Inc. purchased a new stake in shares of Citius Pharmaceuticals in the fourth quarter valued at approximately $622,000. XTX Topco Ltd boosted its holdings in shares of Citius Pharmaceuticals by 572.8% in the 4th 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 in the last quarter. Asset Advisory Group Inc. purchased a new position in Citius Pharmaceuticals in the fourth quarter worth $46,000. Finally, NewEdge Advisors LLC purchased a new stake in Citius Pharmaceuticals in the second quarter valued at about $40,000. Hedge funds and other institutional investors own 16.88% of the company’s stock.

Analyst Ratings Changes

CTXR has been the subject of several analyst reports. Wall Street Zen downgraded shares of Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Zacks Research raised shares of Citius Pharmaceuticals to a “hold” rating in a report on Tuesday, May 19th. HC Wainwright reissued a “buy” rating and set a $4.00 price target on shares of Citius Pharmaceuticals in a report on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Citius Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.00.

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.