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

Citius Pharmaceuticals (NASDAQ:CTXR) posted its earnings results on Friday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02, Zacks reports. The business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $5.46 million.

Citius Pharmaceuticals Trading Up 3.0%

Shares of CTXR stock opened at $0.76 on Friday. The company has a market cap of $20.74 million, a PE ratio of -0.35 and a beta of 1.03. Citius Pharmaceuticals has a 12-month low of $0.47 and a 12-month high of $2.19. The business’s fifty day simple moving average is $0.58 and its 200-day simple moving average is $0.69.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTXR shares. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Citius Pharmaceuticals in a report on Monday, May 18th. Zacks Research raised shares of Citius Pharmaceuticals to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Citius Pharmaceuticals in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Citius Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Citius Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Institutional Inflows and Outflows

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

Citius Pharmaceuticals Company Profile

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.