CTI BioPharma Corp (CTIC) Receives Consensus Rating of “Buy” from Brokerages

CTI BioPharma Corp (NASDAQ:CTIC) has received a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.40.

A number of brokerages have recently commented on CTIC. ValuEngine raised CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. BidaskClub cut CTI BioPharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 14th. Zacks Investment Research lowered CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Finally, JMP Securities set a $8.00 price objective on CTI BioPharma and gave the company a “buy” rating in a research note on Tuesday, July 10th.

Several large investors have recently added to or reduced their stakes in CTIC. NEA Management Company LLC bought a new stake in shares of CTI BioPharma during the 1st quarter valued at $14,625,000. Franklin Resources Inc. bought a new stake in shares of CTI BioPharma during the 1st quarter valued at $13,542,000. BlackRock Inc. raised its stake in shares of CTI BioPharma by 546.2% during the 2nd quarter. BlackRock Inc. now owns 2,803,182 shares of the biopharmaceutical company’s stock valued at $13,958,000 after purchasing an additional 2,369,398 shares during the period. Millennium Management LLC bought a new stake in shares of CTI BioPharma during the 1st quarter valued at $3,068,000. Finally, Algert Global LLC bought a new stake in shares of CTI BioPharma during the 2nd quarter valued at $1,086,000. Institutional investors own 62.76% of the company’s stock.

Shares of NASDAQ CTIC traded down $0.13 during trading on Friday, reaching $1.95. 958,020 shares of the stock traded hands, compared to its average volume of 1,055,096. CTI BioPharma has a 52-week low of $1.94 and a 52-week high of $5.36. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.28 and a quick ratio of 5.30. The stock has a market capitalization of $124.10 million, a PE ratio of -1.57 and a beta of -0.32.

CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. CTI BioPharma had a negative return on equity of 90.92% and a negative net margin of 313.77%. The firm had revenue of $0.61 million for the quarter, compared to analysts’ expectations of $0.30 million. equities analysts expect that CTI BioPharma will post -0.6 EPS for the current fiscal year.

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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Analyst Recommendations for CTI BioPharma (NASDAQ:CTIC)

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