Citius Pharmaceuticals (NASDAQ:CTXR) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR)’s share price passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $0.53 and traded as low as $0.51. Citius Pharmaceuticals shares last traded at $0.5263, with a volume of 265,436 shares.

Wall Street Analysts Forecast Growth

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

Citius Pharmaceuticals Price Performance

The stock’s 50-day moving average price is $0.53 and its 200 day moving average price is $0.65. The company has a quick ratio of 0.40, a current ratio of 0.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $14.45 million, a price-to-earnings ratio of -0.32 and a beta of 1.05.

Citius Pharmaceuticals (NASDAQ:CTXR) last announced its earnings results on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. Equities research analysts predict 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 position in Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,850 shares of the company’s stock, valued at approximately $42,000. BlackRock Inc. owned about 0.25% of Citius Pharmaceuticals at the end of the most recent quarter. 16.88% of the stock is 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.