Citius Pharmaceuticals (NASDAQ:CTXR) Trading Up 13.7%

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Citius Pharmaceuticals Inc (NASDAQ:CTXR) shares were up 13.7% on Friday . The company traded as high as $0.60 and last traded at $0.58, approximately 349,927 shares traded hands during trading. An increase of 127% from the average daily volume of 154,089 shares. The stock had previously closed at $0.51.

A number of equities research analysts have recently weighed in on CTXR shares. ValuEngine raised Citius Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Zacks Investment Research raised Citius Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Dawson James started coverage on Citius Pharmaceuticals in a report on Friday, September 6th. They set a “buy” rating and a $7.00 target price for the company.

The firm has a market cap of $12.72 million, a price-to-earnings ratio of -0.49 and a beta of 0.49. The stock has a 50 day moving average of $0.50 and a 200 day moving average of $0.87.

In related news, CEO Myron Z. Holubiak purchased 558,597 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $0.90 per share, with a total value of $502,737.30. Also, CEO Myron Z. Holubiak purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average cost of $6.02 per share, with a total value of $30,100.00. In the last ninety days, insiders purchased 2,798,297 shares of company stock valued at $2,544,067. 58.52% of the stock is owned by insiders.

A hedge fund recently raised its stake in Citius Pharmaceuticals stock. Vanguard Group Inc. boosted its stake in Citius Pharmaceuticals Inc (NASDAQ:CTXR) by 308.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453,156 shares of the company’s stock after purchasing an additional 342,180 shares during the quarter. Vanguard Group Inc. owned about 2.05% of Citius Pharmaceuticals worth $444,000 at the end of the most recent reporting period. 16.59% of the stock is owned by hedge funds and other institutional investors.

About Citius Pharmaceuticals (NASDAQ:CTXR)

Citius Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes critical care products. It primarily focuses on developing anti-infective, cancer care, and prescription products. The company develops Mino-Lok, which is in Phase III clinical trials for the treatment and salvage of infected central venous catheters in patients with catheter related bloodstream infections; and Hydro-Lido, a topical formulation of hydrocortisone and lidocaine that is intended for the treatment of hemorrhoids.

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