Brokerages Set CTI BioPharma Corp. (NASDAQ:CTIC) Target Price at $9.83

Shares of CTI BioPharma Corp. (NASDAQ:CTICGet Rating) have earned an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.83.

A number of brokerages have commented on CTIC. StockNews.com began coverage on shares of CTI BioPharma in a report on Thursday, March 31st. They set a “sell” rating on the stock. Needham & Company LLC raised their price target on shares of CTI BioPharma from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, March 2nd. Brookline Capital Management upped their price objective on CTI BioPharma from $7.20 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 1st. JMP Securities lifted their target price on CTI BioPharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 2nd. Finally, Zacks Investment Research upgraded CTI BioPharma from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 17th.

NASDAQ CTIC opened at $5.44 on Thursday. The stock’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $3.30. CTI BioPharma has a one year low of $1.43 and a one year high of $5.76.

CTI BioPharma (NASDAQ:CTICGet Rating) last announced its earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $2.30 million during the quarter, compared to the consensus estimate of $2.15 million. Analysts forecast that CTI BioPharma will post -0.77 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in CTI BioPharma by 365.8% in the third quarter. Barclays PLC now owns 26,108 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 20,503 shares during the period. Geode Capital Management LLC increased its stake in shares of CTI BioPharma by 11.8% in the 3rd quarter. Geode Capital Management LLC now owns 658,826 shares of the biopharmaceutical company’s stock valued at $1,943,000 after acquiring an additional 69,676 shares during the last quarter. Stonepine Capital Management LLC raised its position in shares of CTI BioPharma by 4.3% in the 3rd quarter. Stonepine Capital Management LLC now owns 7,964,329 shares of the biopharmaceutical company’s stock valued at $23,495,000 after acquiring an additional 331,799 shares during the period. EPIQ Capital Group LLC bought a new position in CTI BioPharma during the 3rd quarter worth approximately $357,000. Finally, Capstone Investment Advisors LLC acquired a new position in CTI BioPharma during the third quarter valued at approximately $149,000. 47.75% 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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