Citius Pharmaceuticals (NASDAQ:CTXR) Trading 6.1% Higher – Here’s Why

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) shares traded up 6.1% during mid-day trading on Monday . The stock traded as high as $0.8006 and last traded at $0.8006. 304,847 shares were traded during trading, a decline of 13% from the average session volume of 348,733 shares. The stock had previously closed at $0.7547.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTXR. Weiss Ratings reiterated a “sell (e+)” rating on shares of Citius Pharmaceuticals in a research report on Monday, December 29th. D. Boral Capital reaffirmed a “buy” rating and set a $6.00 target price on shares of Citius Pharmaceuticals in a research note on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of Citius Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Citius Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $6.00.

Citius Pharmaceuticals Trading Up 6.1%

The business has a 50-day moving average price of $0.92 and a 200 day moving average price of $1.17. The stock has a market capitalization of $16.62 million, a P/E ratio of -0.24 and a beta of 1.61.

Institutional Trading of Citius Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Citius Pharmaceuticals during the second quarter worth approximately $32,000. Arkadios Wealth Advisors boosted its holdings in shares of Citius Pharmaceuticals by 100.0% in the 2nd quarter. Arkadios Wealth Advisors now owns 20,000 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of Citius Pharmaceuticals during the 2nd quarter valued at approximately $40,000. 16.88% of the stock is currently owned by hedge funds and other institutional investors.

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.