CTI BioPharma Corp (CTIC) Receives $7.10 Average PT from Brokerages

CTI BioPharma Corp (NASDAQ:CTIC) has been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $7.10.

A number of brokerages have recently issued reports on CTIC. JMP Securities began coverage on shares of CTI BioPharma in a report on Wednesday, March 7th. They set an “outperform” rating and a $8.00 price target for the company. Cann restated a “buy” rating and set a $5.00 price target on shares of CTI BioPharma in a report on Wednesday, March 7th. Needham & Company LLC began coverage on shares of CTI BioPharma in a report on Monday, March 26th. They set a “buy” rating and a $10.00 price target for the company. Oppenheimer began coverage on shares of CTI BioPharma in a report on Friday, February 23rd. They set an “outperform” rating and a $5.00 price target for the company. Finally, Zacks Investment Research upgraded shares of CTI BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, December 27th.

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Shares of NASDAQ CTIC traded down $0.08 during midday trading on Friday, reaching $3.81. 105,161 shares of the stock were exchanged, compared to its average volume of 277,068. The company has a market capitalization of $220.91, a P/E ratio of -3.07 and a beta of 0.14. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.44 and a quick ratio of 2.41. CTI BioPharma has a twelve month low of $2.45 and a twelve month high of $4.52.

CTI BioPharma (NASDAQ:CTIC) last announced its quarterly earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $0.46 million for 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 quarter in the prior year, the business earned ($0.70) EPS. research analysts expect that CTI BioPharma will post -0.9 EPS for the current year.

In related news, major shareholder Bvf Partners L. P/Il bought 5,634,108 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $3.00 per share, for a total transaction of $16,902,324.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Value Fund L. P. Biotechnology bought 6,333,333 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was bought 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 company insiders.

A number of institutional investors have recently bought and sold shares of CTIC. JPMorgan Chase & Co. acquired a new stake in CTI BioPharma in the 3rd quarter valued at approximately $272,000. OxFORD Asset Management LLP acquired a new stake in CTI BioPharma in the 3rd quarter valued at approximately $164,000. Kennedy Capital Management Inc. acquired a new stake in CTI BioPharma in the 4th quarter valued at approximately $660,000. Stonepine Capital Management LLC increased its holdings in CTI BioPharma by 84.8% in the 4th quarter. Stonepine Capital Management LLC now owns 1,834,838 shares of the biopharmaceutical company’s stock valued at $4,917,000 after purchasing an additional 841,838 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in CTI BioPharma by 48.3% in the 4th 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. Hedge funds and other 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.

Analyst Recommendations for CTI BioPharma (NASDAQ:CTIC)

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