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Monday, H.C. Wainwright analysts revised their price target for Citius Pharmaceuticals (NASDAQ: NASDAQ:CTXR), lowering it significantly from $100 to $4, while maintaining a Buy rating on the stock. The revision follows a series of financial adjustments and a reverse stock split conducted by the company. According to InvestingPro data, CTXR shares have declined over 95% in the past year, with the stock currently trading near its 52-week low of $0.93.
Citius Pharmaceuticals reported its fiscal first quarter results on February 14, which concluded on December 31, 2024. While InvestingPro analysis indicates the company’s current financial health score is weak at 1.61, analysts expect profitability to improve this year. The company has recently been assigned a unique, permanent Healthcare Common Procedure Coding System (HCPCS) J-code for Lymphir by the Centers for Medicare and Medicaid Services (CMS). This development is a crucial step towards the commercialization and patient support for Lymphir, anticipated to launch in the first half of 2025.
Additionally, Citius is gaining momentum with its product Mino-Lok, having announced positive top-line results from its pivotal Phase 3 clinical trial in May 2024. Mino-Lok is an antibiotic lock solution aimed at salvaging catheters in patients with central line-associated bloodstream infections (CLABSI) or catheter-related bloodstream infections (CRBSI). With these advancements, Citius is on track to potentially commercialize two therapies, Mino-Lok and Lymphir, by the first half of 2026.
H.C. Wainwright’s analysts have expressed confidence in Citius’s progress and potential, emphasizing that the market may be underappreciating the company’s prospects. The revised price target of $4 takes into account the financial adjustments following the financings completed from November 2024 through April 2025, as well as the effects of a one-for-25 reverse stock split. Despite the lowered price target, the firm’s Buy rating signals a continued positive outlook on Citius Pharmaceuticals’ stock. InvestingPro data shows analyst targets ranging from $4 to $9, with the stock currently trading at significant discount to book value (P/B ratio: 0.12). Subscribers can access 13 additional ProTips and comprehensive financial metrics for deeper analysis.
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