CTI BioPharma Corp (CTIC) Given Average Rating of “Buy” by Brokerages
Shares of CTI BioPharma Corp (NASDAQ:CTIC) have been given an average recommendation of “Buy” by the eight brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $4.80.
Separately, Lake Street Capital assumed coverage on CTI BioPharma in a research note on Tuesday, March 5th. They issued a “buy” rating and a $4.00 price objective on the stock.
Several hedge funds have recently modified their holdings of CTIC. Stonepine Capital Management LLC raised its stake in shares of CTI BioPharma by 8.0% in the 4th quarter. Stonepine Capital Management LLC now owns 5,726,579 shares of the biopharmaceutical company’s stock valued at $4,201,000 after acquiring an additional 424,516 shares in the last quarter. Fosun International Ltd bought a new position in shares of CTI BioPharma in the 4th quarter valued at approximately $253,000. Deutsche Bank AG raised its stake in shares of CTI BioPharma by 220.7% in the 4th quarter. Deutsche Bank AG now owns 367,717 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 253,060 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CTI BioPharma by 68.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 568,732 shares of the biopharmaceutical company’s stock valued at $1,229,000 after acquiring an additional 230,386 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of CTI BioPharma by 2.9% in the 3rd quarter. BlackRock Inc. now owns 2,884,361 shares of the biopharmaceutical company’s stock valued at $6,230,000 after acquiring an additional 81,179 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors and hedge funds.
CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.02. CTI BioPharma had a negative return on equity of 67.97% and a negative net margin of 224.53%. The business had revenue of $0.64 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.
Featured Story: What is a Buy-Side Analyst?
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.