Wall Street analysts expect that CTI BioPharma (NASDAQ:CTIC) will report earnings of ($0.07) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for CTI BioPharma’s earnings. CTI BioPharma posted earnings of ($0.65) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 89.2%. The business is expected to report its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that CTI BioPharma will report full year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($1.12) to ($0.68). For the next financial year, analysts forecast that the business will report earnings of ($0.87) per share, with EPS estimates ranging from ($0.96) to ($0.77). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow CTI BioPharma.
CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.00 million. During the same quarter in the prior year, the company posted ($0.70) earnings per share.
Several brokerages have recently commented on CTIC. Cann began coverage on shares of CTI BioPharma in a report on Friday, February 23rd. They issued an “outperform” rating on the stock. Needham & Company LLC assumed coverage on shares of CTI BioPharma in a research note on Monday, March 26th. They set a “buy” rating and a $10.00 target price on the stock. Zacks Investment Research downgraded shares of CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. Oppenheimer assumed coverage on shares of CTI BioPharma in a research note on Friday, February 23rd. They set an “outperform” rating and a $5.00 target price on the stock. Finally, JMP Securities assumed coverage on shares of CTI BioPharma in a research note on Wednesday, March 7th. They set an “outperform” rating and a $8.00 target price on the stock. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $6.42.
Shares of CTIC stock opened at $3.87 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.41 and a current ratio of 2.44. CTI BioPharma has a one year low of $2.45 and a one year high of $4.52.
In related news, insider Value Fund L. P. Biotechnology bought 6,333,333 shares of the stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $3.00 per share, for a total transaction of $18,999,999.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Bvf Partners L. P/Il bought 5,634,108 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $3.00 per share, with a total value of $16,902,324.00. The disclosure for this purchase can be found here. Corporate insiders own 2.72% of the company’s stock.
Institutional investors have recently modified their holdings of the company. OxFORD Asset Management LLP acquired a new position in shares of CTI BioPharma in the 3rd quarter valued at $164,000. JPMorgan Chase & Co. acquired a new position in shares of CTI BioPharma in the 3rd quarter valued at $272,000. Jane Street Group LLC acquired a new stake in CTI BioPharma during the 4th quarter worth $472,000. Kennedy Capital Management Inc. acquired a new stake in CTI BioPharma during the 4th quarter worth $660,000. Finally, Renaissance Technologies LLC boosted its stake in CTI BioPharma by 48.3% during the 4th quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock worth $1,634,000 after purchasing an additional 198,700 shares during the period. Institutional investors and hedge funds own 33.95% of the company’s stock.
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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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