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.

Shares of CTIC traded down $0.08 during midday trading on Monday, reaching $0.84. 287,229 shares of the stock were exchanged, compared to its average volume of 315,521. CTI BioPharma has a 12-month low of $0.60 and a 12-month high of $5.36. The company has a quick ratio of 3.58, a current ratio of 4.04 and a debt-to-equity ratio of 0.18.

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.

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