$30.90 Million in Sales Expected for CTI BioPharma Corp. (NASDAQ:CTIC) This Quarter

Analysts expect CTI BioPharma Corp. (NASDAQ:CTICGet Rating) to post sales of $30.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CTI BioPharma’s earnings, with estimates ranging from $1.60 million to $60.20 million. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that CTI BioPharma will report full year sales of $73.25 million for the current financial year, with estimates ranging from $58.70 million to $87.80 million. For the next year, analysts anticipate that the company will post sales of $192.70 million, with estimates ranging from $128.00 million to $257.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover CTI BioPharma.

CTI BioPharma (NASDAQ:CTICGet Rating) last posted its earnings results on Thursday, March 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.10).

Several analysts have commented on CTIC shares. Brookline Capital Acquisition upped their target price 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. Needham & Company LLC raised their price target on CTI BioPharma from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. StockNews.com initiated coverage on shares of CTI BioPharma in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Brookline Capital Management boosted their target price 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. Finally, JMP Securities raised their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, CTI BioPharma presently has an average rating of “Buy” and a consensus price target of $9.21.

Shares of NASDAQ:CTIC opened at $4.91 on Friday. The company has a market capitalization of $496.01 million, a PE ratio of -4.55 and a beta of 1.11. CTI BioPharma has a 52 week low of $1.43 and a 52 week high of $5.69. The company’s fifty day moving average is $4.26 and its 200-day moving average is $3.00.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its position in CTI BioPharma by 7.5% in the fourth quarter. Northern Trust Corp now owns 135,693 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 9,434 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of CTI BioPharma by 52.4% in the fourth quarter. Qube Research & Technologies Ltd now owns 37,626 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 12,938 shares in the last quarter. Jane Street Group LLC purchased a new stake in CTI BioPharma during the third quarter worth $51,000. Bailard Inc. purchased a new stake in CTI BioPharma during the first quarter valued at approximately $89,000. Finally, Barclays PLC increased its holdings in shares of CTI BioPharma by 365.8% during the third quarter. Barclays PLC now owns 26,108 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 20,503 shares in the last quarter. 52.27% of the stock is currently owned by institutional investors.

About CTI BioPharma (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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