CTI BioPharma Corp (NASDAQ:CTIC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $1.82 and last traded at $1.85, with a volume of 8999 shares. The stock had previously closed at $1.89.
A number of brokerages have recently issued reports on CTIC. ValuEngine upgraded shares of CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. BidaskClub lowered shares of CTI BioPharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 14th. Zacks Investment Research lowered shares of CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. JMP Securities set a $8.00 price target on shares of CTI BioPharma and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $4.00 price target on shares of CTI BioPharma in a research note on Friday, July 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. CTI BioPharma presently has an average rating of “Buy” and an average price target of $5.83.
The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $113.08 million, a PE ratio of -1.48 and a beta of -0.32.
CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. CTI BioPharma had a negative net margin of 313.77% and a negative return on equity of 90.92%. The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $0.30 million. research analysts expect that CTI BioPharma Corp will post -0.6 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CTIC. MetLife Investment Advisors LLC acquired a new position in CTI BioPharma during the second quarter worth about $137,000. Spark Investment Management LLC grew its position in CTI BioPharma by 241.9% during the first quarter. Spark Investment Management LLC now owns 40,000 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 28,300 shares during the period. Barclays PLC grew its position in CTI BioPharma by 9,349.0% during the first quarter. Barclays PLC now owns 49,324 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 48,802 shares during the period. Element Capital Management LLC acquired a new position in CTI BioPharma during the first quarter worth about $205,000. Finally, Rhumbline Advisers acquired a new position in CTI BioPharma during the second quarter worth about $243,000. Institutional investors own 63.58% of the company’s stock.
CTI BioPharma Company Profile (NASDAQ:CTIC)
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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