Rallies on accelerated review prospects for stem cells for COVID-19
Recommendation: Strong Buy
Target Price: $5.50
Citius Pharmaceuticals, Inc. (CTXR) said it has received a written response from the FDA with respect to the company’s pre-investigational new drug application for induced mesenchymal stem cells to treat and reduce the severity of acute respiratory distress syndrome in patients with COVID-19. The FDA acknowledged that the company could apply for fast track designation. The FDA also provided specific guidelines to study iPSC-derived MSCs.
Citius Pharma plans to follow up with the FDA with an Investigational New Drug application under the Coronavirus Treatment Acceleration Program.
Citius Pharmaceuticals Inc is a specialty pharmaceutical company.
The Company is focused on developing and commercializing care products with a focus on anti-infective products in adjunct cancer care and prescription products.
It has three product candidates: Mino-Lok, CITI-002 (halobetasol-lidocaine formulation) and CITI-101 (Mino-Wrap).
Mino-Lok product is an antibiotic lock solution used to treat patients with catheter-related bloodstream infections (CRBSIs).
Mino-Lok product is designed to salvage the central venous catheters CVC, obviating the need to remove and replace the catheter.
Mino-Wrap is a bio-absorbable film impregnated with minocycline and rifampin for reducing acute inflammation and microbial colonization of breast tissue expanders used in breast reconstruction surgeries following mastectomies.
CITI-002 is being developed for symptomatic relief of hemorrhoids. CITI-002 combines the steroid, halobetasol, with lidocaine.
Shayne Heffernan Trade Idea
“Our current price target of Citius Pharmaceuticals will come in around $5.50 giving the stock a price increase of +298.55%.”
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1.63.
The projected lower bound is: 1.16.
The projected closing price is: 1.39.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 23 white candles and 24 black candles for a net of 1 black candles.
A rising window occurred (where the top of the previous shadow is below the bottom of the current shadow). This usually implies a continuation of a bullish trend. There have been 4 rising windows in the last 50 candles–this makes the current rising window even more bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 54.3348. This is not an overbought or oversold reading. The last signal was a buy 25 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 79.00. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 30 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 379.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 15 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.
Rex Takasugi – TD Profile
CITIUS PHARMCTCS closed up 0.300 at 1.380. Volume was 3,196% above average (trending) and Bollinger Bands were 15% wider than normal.
Open High Low Close Volume 1.550 1.970 1.180 1.380 68,256,208
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 0.95 0.90 0.77 Volatility: 179 148 146 Volume: 8,309,764 3,110,784 1,166,167
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
CITIUS PHARMCTCS gapped up today (bullish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
CITIUS PHARMCTCS is currently 79.6% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.
Our volume indicators reflect very strong flows of volume into CTXR.O (bullish). Our trend forecasting oscillators are currently bullish on CTXR.O and have had this outlook for the last 1 periods. Our momentum oscillator is currently indicating that CTXR.O is currently in an overbought condition.