Equities analysts expect that CTI BioPharma Corp (NASDAQ:CTIC) will report sales of $1.00 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CTI BioPharma’s earnings. The lowest sales estimate is $300,000.00 and the highest is $1.70 million. CTI BioPharma posted sales of $9.14 million during the same quarter last year, which suggests a negative year over year growth rate of 89.1%. The company is scheduled to report its next earnings report after the market closes on Wednesday, March 7th.
On average, analysts expect that CTI BioPharma will report full-year sales of $1.00 million for the current year, with estimates ranging from $24.90 million to $26.43 million. For the next year, analysts anticipate that the business will report sales of $11.28 million per share, with estimates ranging from $10.56 million to $12.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover CTI BioPharma.
A number of research analysts have issued reports on CTIC shares. Zacks Investment Research raised shares of CTI BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Wednesday, December 27th. Oppenheimer started coverage on shares of CTI BioPharma in a research note on Friday, February 23rd. They set an “outperform” rating and a $5.00 target price for the company. Cann started coverage on shares of CTI BioPharma in a research note on Friday, February 23rd. They set an “outperform” rating for the company. Finally, JMP Securities started coverage on shares of CTI BioPharma in a research note on Wednesday. They set an “outperform” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. CTI BioPharma has an average rating of “Buy” and an average target price of $5.88.
Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in shares of CTI BioPharma during the 4th quarter worth about $472,000. Renaissance Technologies LLC raised its position in shares of CTI BioPharma by 48.3% during the 4th quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock worth $1,634,000 after buying an additional 198,700 shares in the last quarter. Stonepine Capital Management LLC raised its position in shares of CTI BioPharma by 84.8% during the 4th quarter. Stonepine Capital Management LLC now owns 1,834,838 shares of the biopharmaceutical company’s stock worth $4,917,000 after buying an additional 841,838 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of CTI BioPharma during the 4th quarter worth about $660,000. Finally, OxFORD Asset Management LLP bought a new stake in shares of CTI BioPharma during the 3rd quarter worth about $164,000. Institutional investors own 31.27% of the company’s stock.
CTI BioPharma (NASDAQ CTIC) traded down $0.04 during trading on Friday, reaching $4.02. 347,110 shares of the company’s stock were exchanged, compared to its average volume of 502,294. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.19 and a quick ratio of 2.17. The firm has a market cap of $251.91, a price-to-earnings ratio of -3.38 and a beta of 0.04. CTI BioPharma has a 52-week low of $2.45 and a 52-week high of $4.65.
About CTI BioPharma
CTI BioPharma Corp. 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.