Citius Pharmaceuticals Inc. (NASDAQ: CTXR) stock fell -1.43% on Friday to $1.38 against a previous-day closing price of $1.40. With 2.68 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.4800 whereas the lowest price it dropped to was $1.2500. The 52-week range on CTXR shows that it touched its highest point at $2.01 and its lowest point at $0.77 during that stretch. It currently has a 1-year price target of $7.00. Beta for the stock currently stands at 1.27.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTXR was up-trending over the past week, with a rise of 36.63%, but this was up by 28.97% over a month. Three-month performance surged to 25.45% while six-month performance rose 57.50%. The stock lost -13.21% in the past year, while it has gained 74.68% so far this year. A look at the trailing 12-month EPS for CTXR yields -0.23 with Next year EPS estimates of 0.96. For the next quarter, that number is -0.04. This implies an EPS growth rate of -2.10% for this year and 123.26% for next year.
Float and Shares Shorts:
At present, 146.15 million CTXR shares are outstanding with a float of 133.82 million shares on hand for trading. On Oct 13, 2022, short shares totaled 11.09 million, which was 7.59% higher than short shares on Sep 14, 2022. In addition to Mr. Leonard L. Mazur as the firm’s Co-Founder, CEO, Chairman & Sec., Mr. Myron Z. Holubiak serves as its Co-Founder & Exec. Vice Chairman.
Through their ownership of 12.15% of CTXR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.42% of CTXR, in contrast to 5.46% held by mutual funds. Shares owned by individuals account for 3.92%. As the largest shareholder in CTXR with 3.95% of the stake, The Vanguard Group, Inc. holds 5,770,263 shares worth 5,770,263. A second-largest stockholder of CTXR, BlackRock Fund Advisors, holds 2,310,819 shares, controlling over 1.58% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in CTXR, holding 1,323,296 shares or 0.91% stake. With a 2.71% stake in CTXR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 3,958,982 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.24% of CTXR stock, is the second-largest Mutual Fund holder. It holds 1,818,366 shares valued at 1.44 million. Fidelity Extended Market Index Fu holds 0.49% of the stake in CTXR, owning 716,160 shares worth 0.57 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTXR since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTXR analysts setting a high price target of $10.00 and a low target of $4.00, the average target price over the next 12 months is $7.00. Based on these targets, CTXR could surge 624.64% to reach the target high and rise by 189.86% to reach the target low. Reaching the average price target will result in a growth of 407.25% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CTXR will report FY 2023 earnings on 12/13/2023. Analysts have provided yearly estimates in a range of $0.43 being high and -$0.24 being low. For CTXR, this leads to a yearly average estimate of $0.10. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Citius Pharmaceuticals Inc. surprised analysts by -$0.01 when it reported -$0.06 EPS against a consensus estimate of -$0.05. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.06. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded CTXR stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.