Citius Pharmaceuticals (NASDAQ:CTXR) Shares Gap Down – What’s Next?

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $4.15, but opened at $3.60. Citius Pharmaceuticals shares last traded at $3.61, with a volume of 360,299 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTXR shares. D. Boral Capital reissued a “hold” rating on shares of Citius Pharmaceuticals in a research report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Citius Pharmaceuticals in a research note on Tuesday, November 12th.

Citius Pharmaceuticals Price Performance

The stock has a 50 day moving average price of $9.53 and a 200-day moving average price of $14.27. The stock has a market capitalization of $650.61 million, a price-to-earnings ratio of -15.22 and a beta of 1.66.

Institutional Investors Weigh In On Citius Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Citius Pharmaceuticals during the 3rd quarter worth $50,000. Geode Capital Management LLC lifted its holdings in shares of Citius Pharmaceuticals by 14.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,878,953 shares of the company’s stock valued at $941,000 after purchasing an additional 232,656 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Citius Pharmaceuticals in the 3rd quarter valued at about $47,000. Miller Investment Management LP lifted its holdings in shares of Citius Pharmaceuticals by 99.3% in the 3rd quarter. Miller Investment Management LP now owns 99,640 shares of the company’s stock valued at $50,000 after purchasing an additional 49,640 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in Citius Pharmaceuticals by 33.3% during the 3rd quarter. Arkadios Wealth Advisors now owns 200,000 shares of the company’s stock valued at $100,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 16.88% of the company’s stock.

About Citius Pharmaceuticals

Citius Pharmaceuticals, Inc, a late-stage pharmaceutical company, engages in the development and commercialization of critical care products focusing on oncology products, anti-infectives products in adjunct cancer care, prescription products, and stem cell therapy. It is developing five proprietary products comprising LYMPHIR, an engineered IL-2 diphtheria toxin fusion protein for the treatment of patients with persistent or recurrent cutaneous T-cell lymphoma, which is in Phase 3 clinical trial; Mino-Lok, an antibiotic lock solution to treat patients with catheter-related bloodstream infections by salvaging the infected catheter, which is in Phase 3 clinical trial; Halo-Lido, a corticosteroid-lidocaine topical formulation that intends to provide anti-inflammatory and anesthetic relief to persons suffering from hemorrhoids that is in clinical Phase 2b trial; Mino-Wrap, a liquifying gel-based wrap for reduction of tissue expander infections following breast reconstructive surgeries; and NoveCite, a mesenchymal stem cell therapy for the treatment of acute respiratory disease syndrome.