In the week ended July 13, Citius Pharmaceuticals (CTXR) stock rose 31% to $3.09, from $2.35 on July 6. Since July 10, the stock has seen consistent growth. On July 13, it closed at $3.09, which represents a 49% growth from its 52-week low of $2.08 on June 8.
On July 10, 11, and 12, Citius Pharmaceuticals stock rose 8.25%, 8.53%, and 7.13%, respectively.
Reason for the hike of CTXR stock
On July 9, Citius Pharmaceuticals provided a status report on its ongoing Phase 3 Mino-Lok clinical program. The clinical trial is evaluating the safety and efficacy of Mino-Lok and systemic antibiotic combination therapy for the treatment of individuals with CRBI (catheter-related bloodstream infection).
Citius Pharmaceuticals plans to enroll 700 patients in the United States with 50 participating institutes. It reported that 12 sites are currently enrolling patients, including the Henry Ford Health Center, the Georgetown University Medical Center, the MD Anderson Cancer Center, and the University of Chicago.
Citius Pharmaceuticals noted that it has achieved 50% enrollment of the target number of patients in each institute. It anticipates reaching the target in all 50 sites by Q3 2018.
In June, Citius Pharmaceuticals announced that the United States Patent and Trademark Office granted Mino-Lok a registered trademark. Mini-Lok is an antibody lok solution being investigated for the treatment of individuals with CRBIs.
Analysts’ recommendations for Citius and its peers
Of the two analysts tracking Citius Pharmaceuticals in July, both of them have recommended a “buy.” On July 15, Citius Pharmaceuticals had a consensus 12-month target price of $10.50, which represents a 239.8% return on investment over the next 12 months.
Of the nine analysts tracking Emergent BioSolutions (EBS), 67% have recommended a “buy.” Two of the four analysts tracking Akcea Therapeutics (AKCA) have recommended a “buy.” Of the six analysts tracking Opko Health (OPK), 67% have recommended a “buy.”