CTI BioPharma Corp. (CTIC) Announces Earnings Results, Beats Estimates By $0.04 EPS
CTI BioPharma Corp. (NASDAQ:CTIC) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04, Bloomberg Earnings reports. CTI BioPharma Corp. had a negative net margin of 136.76% and a negative return on equity of 418.99%.
CTI BioPharma Corp. (CTIC) traded down $0.03 during trading on Monday, reaching $3.02. 152,092 shares of the company were exchanged, compared to its average volume of 147,546. CTI BioPharma Corp. has a fifty-two week low of $2.70 and a fifty-two week high of $6.48. The company has a quick ratio of 2.11, a current ratio of 2.15 and a debt-to-equity ratio of 0.19.
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CTIC has been the subject of a number of recent research reports. ValuEngine lowered shares of CTI BioPharma Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 11th. Jefferies Group LLC initiated coverage on shares of CTI BioPharma Corp. in a research note on Tuesday, September 12th. They issued a “buy” rating and a $7.50 price objective for the company.
In related news, Director Richard L. Love sold 14,600 shares of CTI BioPharma Corp. stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $3.21, for a total value of $46,866.00. Following the completion of the transaction, the director now directly owns 84,318 shares in the company, valued at approximately $270,660.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.08% of the stock is currently owned by insiders.
About CTI BioPharma Corp.
CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL).
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