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

CTI BioPharma Corp (NASDAQ:CTIC) has been given a consensus rating of “Buy” by the nine research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $5.67.

CTIC has been the topic of a number of research reports. ValuEngine raised shares of CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Oppenheimer set a $4.00 price objective on shares of CTI BioPharma and gave the stock a “buy” rating in a research report on Friday, December 28th. Finally, Lake Street Capital initiated coverage on shares of CTI BioPharma in a research report on Tuesday, March 5th. They issued a “buy” rating and a $4.00 price objective on the stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stonepine Capital Management LLC raised its position in CTI BioPharma by 8.0% during the fourth quarter. Stonepine Capital Management LLC now owns 5,726,579 shares of the biopharmaceutical company’s stock worth $4,201,000 after acquiring an additional 424,516 shares in the last quarter. BlackRock Inc. raised its position in CTI BioPharma by 2.9% during the third quarter. BlackRock Inc. now owns 2,884,361 shares of the biopharmaceutical company’s stock worth $6,230,000 after acquiring an additional 81,179 shares in the last quarter. Opaleye Management Inc. raised its position in CTI BioPharma by 860.3% during the third quarter. Opaleye Management Inc. now owns 1,550,000 shares of the biopharmaceutical company’s stock worth $3,348,000 after acquiring an additional 1,388,600 shares in the last quarter. Northern Trust Corp raised its position in CTI BioPharma by 434.3% during the second quarter. Northern Trust Corp now owns 582,522 shares of the biopharmaceutical company’s stock worth $2,900,000 after acquiring an additional 473,498 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in CTI BioPharma by 68.1% during the third quarter. JPMorgan Chase & Co. now owns 568,732 shares of the biopharmaceutical company’s stock worth $1,229,000 after acquiring an additional 230,386 shares in the last quarter. 60.21% of the stock is currently owned by hedge funds and other institutional investors.

CTI BioPharma stock opened at $0.99 on Friday. The company has a market capitalization of $57.62 million, a PE ratio of -0.80 and a beta of 1.59. CTI BioPharma has a twelve month low of $0.60 and a twelve month high of $5.36. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.20.

CTI BioPharma (NASDAQ:CTIC) last announced its quarterly earnings data on Wednesday, March 13th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.28. The business had revenue of $14.11 million for the quarter. CTI BioPharma had a negative net margin of 361.97% and a negative return on equity of 85.84%.

About CTI BioPharma

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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