Shares of CTI BioPharma Corp (NASDAQ:CTIC) have received an average recommendation of “Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.80.
A number of analysts have weighed in on CTIC shares. Oppenheimer set a $4.00 target price on CTI BioPharma and gave the stock a “buy” rating in a research note on Friday, December 28th. ValuEngine upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Lake Street Capital began coverage on CTI BioPharma in a research note on Tuesday, March 5th. They issued a “buy” rating and a $4.00 target price on the stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Advisers LP grew its position in shares of CTI BioPharma by 14.0% during the 4th quarter. Two Sigma Advisers LP now owns 115,483 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 14,200 shares in the last quarter. Rhumbline Advisers grew its position in shares of CTI BioPharma by 45.4% during the 4th quarter. Rhumbline Advisers now owns 66,079 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 20,630 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of CTI BioPharma during the 4th quarter worth $35,000. BlackRock Inc. grew its position in shares of CTI BioPharma by 2.9% during the 3rd quarter. BlackRock Inc. now owns 2,884,361 shares of the biopharmaceutical company’s stock worth $6,230,000 after buying an additional 81,179 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of CTI BioPharma by 68.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 568,732 shares of the biopharmaceutical company’s stock worth $1,229,000 after buying an additional 230,386 shares in the last quarter. 60.22% of the stock is currently owned by institutional investors and hedge funds.
CTIC stock traded down $0.04 during midday trading on Thursday, reaching $0.97. The company’s stock had a trading volume of 286,900 shares, compared to its average volume of 341,763. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.18. CTI BioPharma has a 1 year low of $0.60 and a 1 year high of $5.36. The firm has a market cap of $56.43 million, a price-to-earnings ratio of -1.87 and a beta of 1.58.
CTI BioPharma (NASDAQ:CTIC) last released its earnings results on Wednesday, March 13th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.28. CTI BioPharma had a negative return on equity of 47.87% and a negative net margin of 113.11%. The business had revenue of $14.11 million for the quarter.
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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