Zacks Investment Research lowered shares of CTI BioPharma (NASDAQ:CTIC) from a buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “CTI BioPharma Corp. is a biopharmaceutical company. It is focused on the acquisition, development and commercialization of therapies covering a spectrum of blood-related cancers. The company is heavily focused on marketing its approved therapy Pixuvri in Europe, and on continuing the development of its late-stage development pipeline, including pacritinib. CTI BioPharma Corp., formerly known as Cell Therapeutics, Inc., is headquartered in Seattle, Washington. “
Other analysts also recently issued reports about the company. Jefferies Group started coverage on CTI BioPharma in a report on Tuesday, September 12th. They set a buy rating and a $7.50 price objective for the company. ValuEngine downgraded CTI BioPharma from a sell rating to a strong sell rating in a report on Wednesday, October 11th.
CTI BioPharma (NASDAQ:CTIC) last released its quarterly earnings data on Monday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04. The business had revenue of $1.71 million during the quarter, compared to the consensus estimate of $0.30 million. CTI BioPharma had a negative return on equity of 209.67% and a negative net margin of 96.91%. analysts anticipate that CTI BioPharma will post -1.2 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in CTIC. OxFORD Asset Management LLP acquired a new stake in shares of CTI BioPharma during the 3rd quarter worth $164,000. JPMorgan Chase & Co. acquired a new stake in shares of CTI BioPharma during the 3rd quarter worth $272,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of CTI BioPharma during the 2nd quarter worth $7,561,000. Institutional investors and hedge funds own 42.81% of the company’s stock.
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About CTI BioPharma
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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