CTI BioPharma (CTIC) Trading Up 10.9%

Shares of CTI BioPharma Corp (NASDAQ:CTIC) were up 10.9% on Monday . The company traded as high as $3.12 and last traded at $3.06. Approximately 609,792 shares traded hands during trading, an increase of 228% from the average daily volume of 186,018 shares. The stock had previously closed at $2.76.

A number of analysts have recently weighed in on CTIC shares. Jefferies Group started coverage on shares of CTI BioPharma in a research report on Tuesday, September 12th. They set a “buy” rating and a $7.50 price target for the company. ValuEngine downgraded shares of CTI BioPharma from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research downgraded shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd.

The company has a quick ratio of 2.17, a current ratio of 2.19 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $131.48, a PE ratio of -2.97 and a beta of 0.53.

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 firm had revenue of $1.71 million during the quarter, compared to the consensus estimate of $0.30 million. CTI BioPharma had a negative net margin of 96.91% and a negative return on equity of 209.67%. sell-side analysts anticipate that CTI BioPharma Corp will post -1.2 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC acquired a new position in CTI BioPharma in the second quarter worth $7,561,000. JPMorgan Chase & Co. acquired a new position in CTI BioPharma in the third quarter worth $272,000. Finally, OxFORD Asset Management LLP acquired a new position in CTI BioPharma in the third quarter worth $164,000. 42.81% of the stock is owned by hedge funds and other institutional investors.

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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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