$61.40 Million in Sales Expected for CTI BioPharma Corp. (NASDAQ:CTIC) This Quarter

Wall Street brokerages predict that CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) will post sales of $61.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CTI BioPharma’s earnings, with the lowest sales estimate coming in at $60.20 million and the highest estimate coming in at $62.60 million. The firm is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that CTI BioPharma will report full year sales of $120.75 million for the current year, with estimates ranging from $86.50 million to $155.00 million. For the next financial year, analysts anticipate that the business will post sales of $181.45 million, with estimates ranging from $138.00 million to $224.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow CTI BioPharma.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last released its quarterly earnings results on Thursday, March 31st. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.10).

Several analysts have recently weighed in on the stock. Brookline Capital Management lifted their price objective on shares of CTI BioPharma from $7.20 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 1st. Brookline Capital Acquisition lifted their price target on shares of CTI BioPharma from $7.20 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. JMP Securities lifted their price target on shares of CTI BioPharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 2nd. StockNews.com assumed coverage on shares of CTI BioPharma in a report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Needham & Company LLC lifted their price objective on shares of CTI BioPharma from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.21.

Shares of NASDAQ:CTIC traded down $0.06 during mid-day trading on Friday, hitting $4.75. The company had a trading volume of 139,162 shares, compared to its average volume of 4,763,344. The company has a fifty day moving average of $3.52. The firm has a market capitalization of $474.61 million, a P/E ratio of -4.08 and a beta of 1.11. CTI BioPharma has a one year low of $1.43 and a one year high of $5.25.

Institutional investors and hedge funds have recently modified their holdings of the business. Lion Point Capital LP purchased a new stake in shares of CTI BioPharma during the fourth quarter valued at approximately $3,034,000. BlackRock Inc. boosted its stake in shares of CTI BioPharma by 100.9% during the fourth quarter. BlackRock Inc. now owns 1,798,830 shares of the biopharmaceutical company’s stock valued at $4,462,000 after purchasing an additional 903,439 shares during the period. Stonepine Capital Management LLC boosted its stake in shares of CTI BioPharma by 10.5% during the fourth quarter. Stonepine Capital Management LLC now owns 8,800,358 shares of the biopharmaceutical company’s stock valued at $21,825,000 after purchasing an additional 836,029 shares during the period. Bleichroeder LP bought a new position in shares of CTI BioPharma during the fourth quarter valued at approximately $620,000. Finally, Kennedy Capital Management Inc. raised its holdings in shares of CTI BioPharma by 44.4% during the fourth quarter. Kennedy Capital Management Inc. now owns 728,395 shares of the biopharmaceutical company’s stock valued at $1,806,000 after acquiring an additional 224,013 shares in the last quarter. 52.27% of the stock is owned by institutional investors and hedge funds.

CTI BioPharma Company Profile (Get Rating)

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. It offers VONJO (pacritinib), an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R for the treatment of adult patients with myelofibrosis.

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