Analysts expect that CTI BioPharma Corp (NASDAQ:CTIC) will report earnings of ($0.29) per share for the current quarter, Zacks reports. Two analysts have made estimates for CTI BioPharma’s earnings, with the highest EPS estimate coming in at ($0.28) and the lowest estimate coming in at ($0.30). CTI BioPharma reported earnings per share of ($0.16) in the same quarter last year, which would indicate a negative year over year growth rate of 81.3%. The company is expected to report its next earnings report after the market closes on Wednesday, March 7th.
According to Zacks, analysts expect that CTI BioPharma will report full year earnings of ($1.20) per share for the current fiscal year. For the next fiscal year, analysts forecast that the company will report earnings of ($0.90) per share, with EPS estimates ranging from ($1.10) to ($0.69). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover CTI BioPharma.
CTIC has been the topic of several analyst reports. Zacks Investment Research upgraded shares of CTI BioPharma from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Wednesday, December 27th. Oppenheimer initiated coverage on shares of CTI BioPharma in a report on Friday, February 23rd. They issued an “outperform” rating and a $5.00 target price on the stock. Cann initiated coverage on shares of CTI BioPharma in a report on Friday, February 23rd. They issued an “outperform” rating on the stock. Finally, JMP Securities initiated coverage on shares of CTI BioPharma in a report on Wednesday. They issued an “outperform” rating and a $8.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. CTI BioPharma has an average rating of “Buy” and a consensus target price of $5.88.
In related news, major shareholder Bvf Partners L. P/Il acquired 5,634,108 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average cost of $3.00 per share, for a total transaction of $16,902,324.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Value Fund L. P. Biotechnology acquired 6,333,333 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $3.00 per share, for a total transaction of $18,999,999.00. The disclosure for this purchase can be found here. Company insiders own 2.16% of the company’s stock.
Several large investors have recently modified their holdings of CTIC. OxFORD Asset Management LLP acquired a new stake in shares of CTI BioPharma during the third quarter worth $164,000. JPMorgan Chase & Co. acquired a new stake in shares of CTI BioPharma during the third quarter worth $272,000. Jane Street Group LLC acquired a new stake in shares of CTI BioPharma during the fourth quarter worth $472,000. Kennedy Capital Management Inc. acquired a new stake in shares of CTI BioPharma during the fourth quarter worth $660,000. Finally, Renaissance Technologies LLC raised its holdings in shares of CTI BioPharma by 48.3% during the fourth quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock worth $1,634,000 after acquiring an additional 198,700 shares during the period. Institutional investors and hedge funds own 31.27% of the company’s stock.
Shares of CTI BioPharma (NASDAQ:CTIC) traded down $0.04 during midday trading on Friday, reaching $4.02. 347,810 shares of the company traded hands, 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 capitalization of $251.91, a price-to-earnings ratio of -3.35 and a beta of 0.04. CTI BioPharma has a fifty-two week low of $2.45 and a fifty-two week high of $4.65.
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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).
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