SoFi CEO enters prepaid forward contract on 1.5 million shares
In a challenging year for Citius Pharmaceuticals Inc (NASDAQ:CTXR)., the stock has reached a 52-week low, trading at $2.43, with a market capitalization of just $21.27 million. According to InvestingPro analysis, the stock appears undervalued at current levels. This price point reflects a significant downturn for the company, with the stock experiencing a precipitous 1-year change, plummeting by -87.55%. While investors have watched with concern as Citius Pharmaceuticals, a company known for its dedication to developing therapies with a focus on critical care and cancer, has struggled to maintain its market position, analyst targets range from $8 to $100, suggesting potential upside. InvestingPro subscribers have access to 11 additional key insights about CTXR’s financial health and future prospects. The 52-week low serves as a stark indicator of the hurdles the company has faced over the past year, marking a period of intense pressure and scrutiny from shareholders and industry analysts alike. Despite current challenges, the company’s EPS is forecast to reach $7.19 in FY2025, though its current ratio of 0.41 indicates potential liquidity concerns.
In other recent news, Citius Pharmaceuticals has been making significant strides in its operations. Boral (OTC:BOALY) Capital recently upgraded Citius’s stock rating from Hold to Buy, setting a new price target of $9.00. This adjustment reflects the anticipation of the company’s Mino-Lok product approval and the upcoming launch of Lymphir by Citius Oncology, a majority-owned subsidiary of Citius.
Lymphir, an immunotherapy treatment for adults with relapsed or refractory cutaneous T-cell lymphoma, is expected to be a major value driver for Citius. Additionally, Citius has been in discussions with the FDA regarding the New Drug Application pathway for Mino-Lok, an antibiotic lock solution designed to salvage infected central venous catheters.
In other developments, Citius announced a 1-for-25 reverse stock split, a move aimed at satisfying Nasdaq’s minimum bid price condition for continued listing. The reverse stock split will consolidate every twenty-five shares of issued and outstanding common stock into one share. These recent developments highlight Citius Pharmaceuticals’ ongoing efforts to enhance its financial performance and market presence.
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