Citius Pharmaceuticals Inc (CTXR) received a Buy rating and a $3 price target from H.C. Wainwright analyst Vernon Bernardino today. The company’s shares closed yesterday at $0.95, close to its 52-week low of $0.94.
Bernardino wrote:
“We assume coverage of Citius Pharmaceuticals (CTXR) with a Buy rating and 12-month price target of $3. We used a discounted cash flow (DCF) methodology based on projected 2020-2030 revenues from sales of Mino-Lok to arrive at our 12-month price target of $3 for CTXR shares (25% discount rate and 1% terminal growth rate). As the shares have not recovered from a dilutive financing conducted in August 2018, CTXR stock still trades substantially below their 52-week trading range. Thus, we think CTXR is a compelling Buy ahead of the 1Q19 readout for the Phase 3 Mino-Lok trial.”
According to TipRanks.com, Bernardino is ranked #4777 out of 5153 analysts.
Citius Pharmaceuticals Inc has an analyst consensus of Hold.
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The company has a one-year high of $4 and a one-year low of $0.94. Currently, Citius Pharmaceuticals Inc has an average volume of 103.7K.
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Citius Pharmaceuticals, Inc. engages in the development and commercialization of therapeutic products. It offers Mino-Lok, a patented solution to treat and salvage 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 treatment of hemorrhoids. The company was founded by Ralph Montrone on September 9, 2010 and is headquartered in Cranford, NJ.