Zacks Investment Research Lowers CTI BioPharma (CTIC) to Hold

CTI BioPharma (NASDAQ:CTIC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “CTI BioPharma Corp. is a biopharmaceutical company. It is focused on the acquisition, development and commercialization of therapies covering a spectrum of blood-related cancers. The company is heavily focused on marketing its approved therapy Pixuvri in Europe, and on continuing the development of its late-stage development pipeline, including pacritinib. CTI BioPharma Corp., formerly known as Cell Therapeutics, Inc., is headquartered in Seattle, Washington. “

A number of other research analysts also recently issued reports on the stock. Jefferies Group began coverage on shares of CTI BioPharma in a research report on Tuesday, September 12th. They issued a “buy” rating and a $7.50 price target on the stock. ValuEngine downgraded shares of CTI BioPharma from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 11th.

Shares of CTI BioPharma (NASDAQ CTIC) traded up $0.02 during trading on Tuesday, hitting $2.70. 96,000 shares of the company traded hands, compared to its average volume of 108,600. CTI BioPharma has a 12 month low of $2.45 and a 12 month high of $6.48. The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26. The company has a market cap of $116.01, a price-to-earnings ratio of -2.62 and a beta of 0.53.

CTI BioPharma (NASDAQ:CTIC) last posted its earnings results on Monday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.04. CTI BioPharma had a negative net margin of 96.91% and a negative return on equity of 209.67%. The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $0.30 million. equities research analysts predict that CTI BioPharma will post -1.2 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Segantii Capital Management Ltd acquired a new position in shares of CTI BioPharma during the 1st quarter valued at $102,000. WASHINGTON TRUST Co acquired a new position in shares of CTI BioPharma during the 2nd quarter valued at $104,000. Acadian Asset Management LLC acquired a new position in shares of CTI BioPharma during the 1st quarter valued at $181,000. Nine Chapters Capital Management LLC lifted its position in shares of CTI BioPharma by 152.9% during the 1st quarter. Nine Chapters Capital Management LLC now owns 43,500 shares of the biopharmaceutical company’s stock valued at $183,000 after acquiring an additional 26,300 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of CTI BioPharma during the 3rd quarter valued at $164,000. Institutional investors own 42.81% of the company’s stock.

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CTI BioPharma Company Profile

CTI BioPharma Corp. (CTI) 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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