Brokerages expect CTI BioPharma Corp (NASDAQ:CTIC) to announce ($0.25) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CTI BioPharma’s earnings, with estimates ranging from ($0.27) to ($0.22). CTI BioPharma posted earnings of $0.06 per share in the same quarter last year, which would suggest a negative year over year growth rate of 516.7%. The firm is scheduled to announce its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that CTI BioPharma will report full year earnings of ($0.95) per share for the current year, with EPS estimates ranging from ($1.19) to ($0.71). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.81) per share, with EPS estimates ranging from ($0.82) to ($0.80). Zacks’ EPS averages are a mean average based on a survey of research firms that that provide coverage for CTI BioPharma.
Get CTI BioPharma alerts:CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $10.48 million during the quarter, compared to the consensus estimate of $10.30 million. CTI BioPharma had a negative net margin of 71.30% and a negative return on equity of 63.27%.
Several research firms have weighed in on CTIC. BidaskClub raised shares of CTI BioPharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 16th. JMP Securities set a $8.00 price target on shares of CTI BioPharma and gave the stock a “buy” rating in a research note on Tuesday, July 10th. ValuEngine raised shares of CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded shares of CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Thursday, July 12th. Finally, Needham & Company LLC began coverage on shares of CTI BioPharma in a research note on Monday, March 26th. They issued a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $5.83.
CTI BioPharma opened at $2.35 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.30 and a current ratio of 5.32. CTI BioPharma has a twelve month low of $2.17 and a twelve month high of $5.36.
Several large investors have recently modified their holdings of CTIC. Renaissance Technologies LLC raised its stake in shares of CTI BioPharma by 48.3% during the fourth quarter. Renaissance Technologies LLC now owns 609,849 shares of the biopharmaceutical company’s stock valued at $1,634,000 after acquiring an additional 198,700 shares during the last quarter. Jane Street Group LLC bought a new position in shares of CTI BioPharma during the fourth quarter valued at about $472,000. Northern Trust Corp raised its stake in shares of CTI BioPharma by 181.5% during the first quarter. Northern Trust Corp now owns 109,024 shares of the biopharmaceutical company’s stock valued at $425,000 after acquiring an additional 70,299 shares during the last quarter. BlackRock Inc. raised its stake in shares of CTI BioPharma by 4.5% during the first quarter. BlackRock Inc. now owns 433,784 shares of the biopharmaceutical company’s stock valued at $1,691,000 after acquiring an additional 18,666 shares during the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of CTI BioPharma by 241.9% during the first quarter. Spark Investment Management LLC now owns 40,000 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 28,300 shares during the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.
About CTI BioPharma
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 and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.
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