CTI BioPharma Corp (NASDAQ:CTIC) has been given an average rating of “Buy” by the eight research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.00.

A number of equities research analysts have commented on the company. Cann restated a “buy” rating and issued a $4.00 target price on shares of CTI BioPharma in a research report on Monday, October 1st. Oppenheimer set a $4.00 target price on CTI BioPharma and gave the company a “buy” rating in a research report on Friday, November 2nd.

Several hedge funds have recently bought and sold shares of the stock. Stonepine Capital Management LLC grew its stake in CTI BioPharma by 30.9% during the 3rd quarter. Stonepine Capital Management LLC now owns 5,302,063 shares of the biopharmaceutical company’s stock worth $11,452,000 after purchasing an additional 1,252,765 shares in the last quarter. BlackRock Inc. grew its stake in 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 purchasing an additional 81,179 shares in the last quarter. Opaleye Management Inc. grew its stake in CTI BioPharma by 860.3% during the 3rd quarter. Opaleye Management Inc. now owns 1,550,000 shares of the biopharmaceutical company’s stock worth $3,348,000 after purchasing an additional 1,388,600 shares in the last quarter. Renaissance Technologies LLC grew its stake in CTI BioPharma by 12.3% during the 2nd quarter. Renaissance Technologies LLC now owns 773,445 shares of the biopharmaceutical company’s stock worth $3,852,000 after purchasing an additional 84,500 shares in the last quarter. Finally, Northern Trust Corp grew its stake in CTI BioPharma by 434.3% during the 2nd quarter. Northern Trust Corp now owns 582,522 shares of the biopharmaceutical company’s stock worth $2,900,000 after purchasing an additional 473,498 shares in the last quarter. Hedge funds and other institutional investors own 59.22% of the company’s stock.

NASDAQ:CTIC opened at $1.60 on Friday. CTI BioPharma has a 52 week low of $1.55 and a 52 week high of $5.36. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $93.94 million, a price-to-earnings ratio of -1.29 and a beta of -0.43.

CTI BioPharma (NASDAQ:CTIC) last posted its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.06). CTI BioPharma had a negative net margin of 361.97% and a negative return on equity of 85.84%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.60 million. On average, research analysts predict that CTI BioPharma will post -0.78 EPS for the current fiscal year.

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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Analyst Recommendations for CTI BioPharma (NASDAQ:CTIC)

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