CTI BioPharma Corp (NASDAQ:CTIC) – Equities researchers at Jefferies Group issued their Q1 2018 earnings estimates for CTI BioPharma in a research report issued to clients and investors on Thursday. Jefferies Group analyst M. Andrews forecasts that the biopharmaceutical company will post earnings of ($0.07) per share for the quarter. Jefferies Group also issued estimates for CTI BioPharma’s Q2 2018 earnings at ($0.26) EPS, Q3 2018 earnings at ($0.30) EPS, Q4 2018 earnings at ($0.42) EPS, FY2018 earnings at ($1.12) EPS, FY2019 earnings at ($0.96) EPS, FY2020 earnings at ($0.55) EPS, FY2021 earnings at ($0.22) EPS and FY2022 earnings at $0.24 EPS.
Several other research firms have also commented on CTIC. Zacks Investment Research lowered CTI BioPharma from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Cann reiterated a “buy” rating and set a $5.00 price target on shares of CTI BioPharma in a report on Wednesday, March 7th. JMP Securities started coverage on CTI BioPharma in a report on Wednesday, March 7th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Oppenheimer started coverage on CTI BioPharma in a report on Friday, February 23rd. They set an “outperform” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $5.70.
CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the 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 company had revenue of $0.46 million for the quarter, compared to analysts’ expectations of $1.00 million. During the same quarter in the prior year, the firm earned ($0.70) EPS.
In related news, insider Value Fund L. P. Biotechnology acquired 6,333,333 shares of CTI BioPharma stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $3.00 per share, for a total transaction of $18,999,999.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bvf Partners L. P/Il acquired 5,634,108 shares of CTI BioPharma stock in a transaction that occurred on 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 disclosure for this purchase can be found here. 2.16% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. OxFORD Asset Management LLP purchased a new stake in CTI BioPharma in the 3rd quarter valued at about $164,000. JPMorgan Chase & Co. purchased a new stake in CTI BioPharma in the 3rd quarter valued at about $272,000. Jane Street Group LLC purchased a new stake in CTI BioPharma in the 4th quarter valued at about $472,000. Renaissance Technologies LLC raised 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 buying an additional 198,700 shares during the period. Finally, Kennedy Capital Management Inc. purchased a new stake in CTI BioPharma in the 4th quarter valued at about $660,000. Hedge funds and other institutional investors own 31.26% of the company’s stock.
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CTI BioPharma Company Profile
CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL).
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