CTI BioPharma Corp (CTIC) Expected to Announce Earnings of -$0.28 Per Share

Equities research analysts predict that CTI BioPharma Corp (NASDAQ:CTIC) will announce earnings of ($0.28) per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for CTI BioPharma’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.23). CTI BioPharma reported earnings per share of ($0.30) during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, March 6th.

According to Zacks, analysts expect that CTI BioPharma will report full-year earnings of ($0.85) per share for the current financial year, with EPS estimates ranging from ($0.91) to ($0.78). For the next year, analysts expect that the business will post earnings of ($0.92) per share, with EPS estimates ranging from ($1.09) to ($0.74). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow CTI BioPharma.

CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.06). CTI BioPharma had a negative net margin of 361.97% and a negative return on equity of 85.84%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.60 million.

CTIC has been the subject of several research reports. Cann reaffirmed a “buy” rating and set a $4.00 price objective on shares of CTI BioPharma in a report on Monday, October 1st. Oppenheimer set a $4.00 price target on CTI BioPharma and gave the stock a “buy” rating in a report on Friday, November 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $5.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC raised its holdings in shares of CTI BioPharma by 2.4% in the third quarter. Stonepine Capital Management LLC now owns 4,145,459 shares of the biopharmaceutical company’s stock worth $8,954,000 after acquiring an additional 96,161 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of CTI BioPharma in the second quarter worth $243,000. Alambic Investment Management L.P. acquired a new position in shares of CTI BioPharma in the second quarter worth $617,000. Opaleye Management Inc. acquired a new position in shares of CTI BioPharma in the second quarter worth $803,000. Finally, BlackRock Inc. raised its holdings in shares of CTI BioPharma by 546.2% in the second quarter. BlackRock Inc. now owns 2,803,182 shares of the biopharmaceutical company’s stock worth $13,958,000 after acquiring an additional 2,369,398 shares during the last quarter. 59.22% of the stock is owned by institutional investors.

CTIC stock traded up $0.03 during midday trading on Wednesday, hitting $1.71. 72,440 shares of the stock were exchanged, compared to its average volume of 416,839. The stock has a market cap of $97.42 million, a PE ratio of -1.38 and a beta of -0.43. CTI BioPharma has a fifty-two week low of $1.55 and a fifty-two week high of $5.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.58 and a current ratio of 3.58.

About CTI BioPharma

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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