Clarus Therapeutics (NASDAQ:CRXT) PT Lowered to $3.00

Clarus Therapeutics (NASDAQ:CRXTGet Rating) had its target price decreased by investment analysts at Needham & Company LLC to $3.00 in a report issued on Tuesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock.

A number of other research firms also recently issued reports on CRXT. Zacks Investment Research raised shares of Clarus Therapeutics from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research note on Monday, April 4th. Truist Financial reduced their price target on shares of Clarus Therapeutics from $7.00 to $3.00 in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Clarus Therapeutics currently has a consensus rating of “Buy” and an average target price of $8.79.

CRXT stock traded down $0.10 during trading on Tuesday, reaching $0.44. 73,191 shares of the stock were exchanged, compared to its average volume of 30,878,726. The business has a 50 day moving average price of $1.04 and a 200-day moving average price of $2.17. Clarus Therapeutics has a 1 year low of $0.42 and a 1 year high of $31.24.

Clarus Therapeutics (NASDAQ:CRXTGet Rating) last issued its earnings results on Wednesday, March 30th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.49. Sell-side analysts forecast that Clarus Therapeutics will post -2.02 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. Cowen AND Company LLC acquired a new position in shares of Clarus Therapeutics in the third quarter valued at approximately $53,000. Citadel Advisors LLC acquired a new position in shares of Clarus Therapeutics in the fourth quarter valued at approximately $31,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clarus Therapeutics in the fourth quarter valued at approximately $51,000. Powell Investment Advisors LLC grew its holdings in shares of Clarus Therapeutics by 48.8% in the fourth quarter. Powell Investment Advisors LLC now owns 64,000 shares of the company’s stock valued at $156,000 after purchasing an additional 21,000 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Clarus Therapeutics in the third quarter valued at approximately $160,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

About Clarus Therapeutics (Get Rating)

Clarus Therapeutics Holdings, Inc, a pharmaceutical company, focuses on the development and commercialization of oral testosterone replacement therapy in the United States. It offers JATENZO, a soft gel oral formulation of testosterone undecanoate for treating hypogonadal men. The company has a licensing agreement with HavaH Therapeutics for product to treat androgen therapies for inflammatory breast disease and certain forms of breast cancer; and license agreement with The Royal Institution for the Advancement of Learning/McGill University to develop and commercialize McGill's proprietary technology designed to treat conditions associated with CoQ10 deficiencies in humans.

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