Citius Pharmaceuticals (NASDAQ:CTXR) Reaches New 12-Month Low – Time to Sell?

Citius Pharmaceuticals, Inc. (NASDAQ:CTXR) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $2.55 and last traded at $3.36, with a volume of 1113436 shares traded. The stock had previously closed at $3.34.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. D. Boral Capital reaffirmed a “hold” rating on shares of Citius Pharmaceuticals in a report on Friday. HC Wainwright restated a “buy” rating and set a $100.00 price target on shares of Citius Pharmaceuticals in a report on Tuesday, November 12th.

Citius Pharmaceuticals Trading Up 13.9 %

The business’s 50-day simple moving average is $0.39 and its 200-day simple moving average is $0.57. The company has a market cap of $686.77 million, a PE ratio of -11.46 and a beta of 1.66.

Hedge Funds Weigh In On Citius Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in CTXR. Vanguard Group Inc. grew its holdings in Citius Pharmaceuticals by 1.5% during the first quarter. Vanguard Group Inc. now owns 7,005,119 shares of the company’s stock valued at $6,286,000 after purchasing an additional 104,889 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Citius Pharmaceuticals by 50.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 150,000 shares of the company’s stock worth $88,000 after acquiring an additional 50,000 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Citius Pharmaceuticals in the second quarter valued at about $29,000. Cubist Systematic Strategies LLC bought a new position in shares of Citius Pharmaceuticals in the second quarter worth about $69,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Citius Pharmaceuticals in the 2nd quarter valued at approximately $118,000. Institutional investors and hedge funds own 16.88% of the company’s stock.

Citius Pharmaceuticals Company Profile

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.