Jefferies Group Analysts Increase Earnings Estimates for CTI BioPharma Corp (CTIC)

CTI BioPharma Corp (NASDAQ:CTIC) – Equities researchers at Jefferies Group boosted their FY2018 EPS estimates for shares of CTI BioPharma in a report released on Tuesday. Jefferies Group analyst M. Andrews now forecasts that the biopharmaceutical company will post earnings per share of ($1.10) for the year, up from their previous estimate of ($1.51). Jefferies Group also issued estimates for CTI BioPharma’s FY2019 earnings at ($0.93) EPS, FY2020 earnings at ($0.51) EPS and FY2021 earnings at ($0.19) EPS.

Separately, Zacks Investment Research upgraded 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.

Shares of CTI BioPharma (NASDAQ CTIC) traded up $0.22 during trading on Thursday, reaching $3.54. The company had a trading volume of 530,700 shares, compared to its average volume of 437,637. CTI BioPharma has a 1-year low of $2.45 and a 1-year high of $4.79. The company has a market capitalization of $142.66, a P/E ratio of -2.97 and a beta of 0.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.19 and a quick ratio of 2.17.

Large investors have recently made changes to their positions in the business. Stonepine Capital Management LLC lifted its position in shares of CTI BioPharma by 84.8% during 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 buying an additional 841,838 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of CTI BioPharma by 48.3% during 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 last quarter. Kennedy Capital Management Inc. purchased a new position in shares of CTI BioPharma during the 4th quarter valued at $660,000. Jane Street Group LLC purchased a new position in shares of CTI BioPharma during the 4th quarter valued at $472,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of CTI BioPharma during the 3rd quarter valued at $272,000. Hedge funds and other institutional investors own 42.84% of the company’s stock.

In other CTI BioPharma news, major shareholder Bvf Partners L. P/Il acquired 5,634,108 shares of CTI BioPharma stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Value Fund L. P. Biotechnology acquired 6,333,333 shares of CTI BioPharma stock in a transaction on Friday, February 9th. The stock was acquired 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 owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “Jefferies Group Analysts Increase Earnings Estimates for CTI BioPharma Corp (CTIC)” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/15/jefferies-group-analysts-increase-earnings-estimates-for-cti-biopharma-corp-ctic.html.

About CTI BioPharma

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).

Receive News & Ratings for CTI BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTI BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply