Equities analysts forecast that CTI BioPharma Corp (NASDAQ:CTIC) will post sales of $10.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for CTI BioPharma’s earnings, with the highest sales estimate coming in at $10.50 million and the lowest estimate coming in at $10.10 million. CTI BioPharma reported sales of $750,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 1,273.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that CTI BioPharma will report full-year sales of $10.30 million for the current year, with estimates ranging from $10.56 million to $12.00 million. For the next year, analysts forecast that the company will post sales of $18.34 million per share, with estimates ranging from $14.69 million to $22.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover CTI BioPharma.
CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings data on Wednesday, March 7th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $1.00 million. CTI BioPharma had a negative return on equity of 233.13% and a negative net margin of 161.74%. During the same period in the prior year, the firm posted ($0.70) EPS.
CTIC stock traded up $0.19 during trading on Wednesday, reaching $4.05. The company’s stock had a trading volume of 404,942 shares, compared to its average volume of 458,746. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $223.81, a price-to-earnings ratio of -3.14 and a beta of 0.04. CTI BioPharma has a one year low of $2.45 and a one year high of $4.52.
In other news, major shareholder Bvf Partners L. P/Il bought 5,634,108 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $3.00 per share, for a total transaction of $16,902,324.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Value Fund L. P. Biotechnology bought 6,333,333 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $3.00 per share, with a total value of $18,999,999.00. The disclosure for this purchase can be found here. 2.16% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new stake in CTI BioPharma in the third quarter valued at about $164,000. JPMorgan Chase & Co. bought a new stake in CTI BioPharma in the third quarter valued at about $272,000. Jane Street Group LLC bought a new stake in CTI BioPharma in the fourth quarter valued at about $472,000. Renaissance Technologies LLC increased its holdings in CTI BioPharma by 48.3% in the fourth quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock valued at $1,634,000 after purchasing an additional 198,700 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in CTI BioPharma in the fourth quarter valued at about $660,000. Institutional investors own 33.95% of the company’s stock.
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CTI BioPharma Company Profile
CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.
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