CTI BioPharma (NASDAQ:CTIC) Hits New 12-Month High at $9.05

CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.05 and last traded at $9.00, with a volume of 1134712 shares changing hands. The stock had previously closed at $8.93.

Analyst Ratings Changes

CTIC has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Needham & Company LLC lowered shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Lake Street Capital lowered shares of CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. SVB Securities lowered shares of CTI BioPharma from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 16th. Finally, TD Cowen reduced their price objective on shares of CTI BioPharma from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, CTI BioPharma has a consensus rating of “Hold” and a consensus target price of $10.29.

CTI BioPharma Stock Up 0.1 %

The company has a market capitalization of $1.19 billion, a PE ratio of -15.52 and a beta of 0.86. The business’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $5.52.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last posted its quarterly earnings data on Monday, March 6th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $21.08 million for the quarter, compared to the consensus estimate of $24.88 million. During the same period in the previous year, the company earned ($0.38) earnings per share. On average, analysts anticipate that CTI BioPharma Corp. will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of CTI BioPharma

A number of hedge funds have recently made changes to their positions in CTIC. Bank of America Corp DE lifted its position in shares of CTI BioPharma by 354.5% in the first quarter. Bank of America Corp DE now owns 5,900 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 4,602 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in shares of CTI BioPharma in the first quarter worth approximately $43,000. Shell Asset Management Co. bought a new position in CTI BioPharma during the fourth quarter valued at approximately $47,000. Legal & General Group Plc bought a new position in CTI BioPharma during the second quarter valued at approximately $49,000. Finally, Lazard Asset Management LLC bought a new position in CTI BioPharma during the third quarter valued at approximately $57,000. 99.40% of the stock is owned by hedge funds and other institutional investors.

CTI BioPharma Company Profile

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CTI BioPharma Corp. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. It focuses on evaluating pacritinib, its sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis.