Brokerages expect that CTI BioPharma Corp (NASDAQ:CTIC) will announce earnings of ($0.07) per share for the current quarter, Zacks reports. Two analysts have made estimates for CTI BioPharma’s earnings. CTI BioPharma reported earnings of ($0.65) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 89.2%. The business is expected to report its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that CTI BioPharma will report full year earnings of ($0.90) per share for the current year, with EPS estimates ranging from ($1.12) to ($0.68). For the next year, analysts forecast that the business will post earnings of ($0.87) per share, with EPS estimates ranging from ($0.96) to ($0.77). Zacks’ EPS averages are an average based on a survey of research analysts that cover CTI BioPharma.
CTI BioPharma (NASDAQ:CTIC) last released its quarterly earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). CTI BioPharma had a negative return on equity of 233.13% and a negative net margin of 161.74%. The firm had revenue of $0.46 million for the quarter, compared to analyst estimates of $1.00 million. During the same period in the prior year, the business earned ($0.70) earnings per share.
In other CTI BioPharma news, insider Value Fund L. P. Biotechnology purchased 6,333,333 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $18,999,999.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bvf Partners L. P/Il purchased 5,634,108 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $3.00 per share, for a total transaction of $16,902,324.00. The disclosure for this purchase can be found here. Corporate insiders own 2.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CTIC. JPMorgan Chase & Co. purchased a new position in CTI BioPharma in the third quarter valued at approximately $272,000. OxFORD Asset Management LLP purchased a new position in CTI BioPharma in the third quarter valued at approximately $164,000. Kennedy Capital Management Inc. purchased a new position in CTI BioPharma in the fourth quarter valued at approximately $660,000. Stonepine Capital Management LLC raised its holdings in CTI BioPharma by 84.8% in the fourth quarter. Stonepine Capital Management LLC now owns 1,834,838 shares of the biopharmaceutical company’s stock valued at $4,917,000 after buying an additional 841,838 shares during the period. Finally, Renaissance Technologies LLC raised 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 buying an additional 198,700 shares during the period. Hedge funds and other institutional investors own 33.95% of the company’s stock.
CTI BioPharma stock opened at $3.81 on Thursday. CTI BioPharma has a 12-month low of $2.45 and a 12-month high of $4.52. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 0.90.
TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Anticipate CTI BioPharma Corp (CTIC) to Announce -$0.07 EPS” was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3340926/zacks-analysts-anticipate-cti-biopharma-corp-ctic-to-announce-0-07-eps.html.
About CTI BioPharma
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CTI BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTI BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.