CTI BioPharma (NASDAQ:CTIC) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of CTI BioPharma (NASDAQ:CTICGet Rating) from a sell rating to a hold rating in a research note released on Tuesday.

Separately, SVB Leerink assumed coverage on CTI BioPharma in a research note on Monday, October 17th. They set an outperform rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $11.00.

CTI BioPharma Trading Up 3.2 %

NASDAQ:CTIC opened at $5.41 on Tuesday. The stock has a market cap of $686.50 million, a P/E ratio of -4.96 and a beta of 0.85. The stock has a 50 day simple moving average of $5.66 and a 200 day simple moving average of $5.83. CTI BioPharma has a 1-year low of $1.82 and a 1-year high of $7.80.

CTI BioPharma (NASDAQ:CTICGet Rating) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $18.24 million for the quarter, compared to analyst estimates of $18.13 million. As a group, sell-side analysts forecast that CTI BioPharma will post -0.72 EPS for the current year.

Insider Activity

In other news, Director Michael A. Metzger sold 91,500 shares of CTI BioPharma stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $5.58, for a total value of $510,570.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael A. Metzger sold 91,500 shares of CTI BioPharma stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $5.58, for a total value of $510,570.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam R. Craig sold 84,683 shares of CTI BioPharma stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $6.01, for a total value of $508,944.83. Following the completion of the transaction, the chief executive officer now owns 29,440 shares in the company, valued at approximately $176,934.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 203,204 shares of company stock worth $1,181,911. Insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On CTI BioPharma

Hedge funds have recently modified their holdings of the company. Dorsey Wright & Associates acquired a new stake in shares of CTI BioPharma during the 2nd quarter valued at $48,000. Occudo Quantitative Strategies LP boosted its holdings in shares of CTI BioPharma by 152.6% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 206,954 shares of the biopharmaceutical company’s stock valued at $1,236,000 after acquiring an additional 125,013 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of CTI BioPharma during the 2nd quarter valued at $2,612,000. SG Americas Securities LLC acquired a new stake in shares of CTI BioPharma during the 2nd quarter valued at $619,000. Finally, Bartlett & Co. LLC acquired a new stake in shares of CTI BioPharma during the 3rd quarter valued at $216,000. Institutional investors and hedge funds own 99.40% of the company’s stock.

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.

Further Reading

Analyst Recommendations for CTI BioPharma (NASDAQ:CTIC)

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