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

Citius Pharmaceuticals (NASDAQ:CTXR) released its quarterly earnings results on Friday. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02, Zacks reports.

Citius Pharmaceuticals Stock Performance

NASDAQ CTXR traded up $0.02 on Friday, hitting $0.76. 588,654 shares of the stock were exchanged, compared to its average volume of 840,297. Citius Pharmaceuticals has a 52-week low of $0.47 and a 52-week high of $2.19. The firm has a market capitalization of $20.74 million, a P/E ratio of -0.35 and a beta of 1.03. The stock has a fifty day moving average price of $0.58 and a two-hundred day moving average price of $0.69.

Institutional Investors Weigh In On Citius Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in shares of Citius Pharmaceuticals during the 2nd quarter worth about $32,000. NewEdge Advisors LLC purchased a new stake in shares of Citius Pharmaceuticals in the second quarter worth approximately $40,000. Asset Advisory Group Inc. bought a new stake in shares of Citius Pharmaceuticals during the 4th quarter worth approximately $46,000. Finally, Heights Capital Management Inc. purchased a new position in Citius Pharmaceuticals during the 4th quarter valued at $622,000. Institutional investors own 16.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Citius Pharmaceuticals in a report on Wednesday, June 24th. Zacks Research raised shares of Citius Pharmaceuticals to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen lowered Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Finally, HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Citius Pharmaceuticals in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Citius Pharmaceuticals currently 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.