Shares of CTI BioPharma Corp (NASDAQ:CTIC) have received an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.10.
Several analysts recently commented on CTIC shares. Cann reaffirmed a “buy” rating and set a $5.00 price objective on shares of CTI BioPharma in a research note on Wednesday, March 7th. Oppenheimer started coverage on CTI BioPharma in a research note on Friday, February 23rd. They set an “outperform” rating and a $5.00 price objective on the stock. BidaskClub downgraded CTI BioPharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 1st. Needham & Company LLC started coverage on CTI BioPharma in a research note on Monday, March 26th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Zacks Investment Research raised CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Wednesday, April 25th.
Get CTI BioPharma alerts:CTI BioPharma traded up $0.18, hitting $5.08, during mid-day trading on Friday, MarketBeat.com reports. 5,420,700 shares of the company’s stock were exchanged, compared to its average volume of 386,918. The company has a market capitalization of $291.62 million, a PE ratio of -4.10 and a beta of 0.15. CTI BioPharma has a fifty-two week low of $2.45 and a fifty-two week high of $5.28. The company has a current ratio of 5.32, a quick ratio of 5.30 and a debt-to-equity ratio of 0.17.
CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The business had revenue of $10.48 million for the quarter, compared to the consensus estimate of $10.30 million. CTI BioPharma had a negative return on equity of 63.27% and a negative net margin of 71.30%. analysts predict that CTI BioPharma will post -0.95 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in CTI BioPharma during the 1st quarter worth about $3,068,000. Element Capital Management LLC bought a new position in CTI BioPharma during the 1st quarter worth about $205,000. Barclays PLC increased its holdings in CTI BioPharma by 9,349.0% during the 1st quarter. Barclays PLC now owns 49,324 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 48,802 shares in the last quarter. Tibra Equities Europe Ltd bought a new position in CTI BioPharma during the 1st quarter worth about $479,000. Finally, Franklin Resources Inc. bought a new position in CTI BioPharma during the 1st quarter worth about $13,542,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.
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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