CTI BioPharma (NASDAQ:CTIC) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.06), MarketWatch Earnings reports. The business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $0.60 million. CTI BioPharma had a negative net margin of 361.97% and a negative return on equity of 85.62%.
NASDAQ:CTIC traded up $0.03 during trading hours on Friday, reaching $1.80. The stock had a trading volume of 225,075 shares, compared to its average volume of 174,763. The company has a quick ratio of 4.28, a current ratio of 4.28 and a debt-to-equity ratio of 0.18. CTI BioPharma has a 52 week low of $1.66 and a 52 week high of $5.36.
A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of CTI BioPharma by 434.3% during the 2nd quarter. Northern Trust Corp now owns 582,522 shares of the biopharmaceutical company’s stock valued at $2,900,000 after purchasing an additional 473,498 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of CTI BioPharma by 203.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 150,671 shares of the biopharmaceutical company’s stock valued at $750,000 after purchasing an additional 101,055 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in shares of CTI BioPharma during the 2nd quarter valued at approximately $137,000. Opaleye Management Inc. bought a new position in shares of CTI BioPharma during the 2nd quarter valued at approximately $803,000. Finally, Alambic Investment Management L.P. bought a new position in shares of CTI BioPharma during the 2nd quarter valued at approximately $617,000. 69.47% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. ValuEngine raised CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Oppenheimer set a $4.00 target price on CTI BioPharma and gave the company a “buy” rating in a research note on Friday. Cann reissued a “buy” rating and set a $4.00 target price on shares of CTI BioPharma in a research note on Friday. BidaskClub downgraded CTI BioPharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research downgraded CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $5.50.
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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