CTI BioPharma (CTIC) Set to Announce Quarterly Earnings on Monday

CTI BioPharma (NASDAQ:CTIC – Get Rating) is scheduled to issue its quarterly earnings data after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The business had revenue of $2.30 million during the quarter, compared to analyst estimates of $2.15 million. On average, analysts expect CTI BioPharma to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

CTI BioPharma Stock Up 1.9 %

NASDAQ CTIC opened at $7.43 on Friday. The stock’s 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $4.65. CTI BioPharma has a twelve month low of $1.43 and a twelve month high of $7.80. The company has a market capitalization of $809.62 million, a price-to-earnings ratio of -6.09 and a beta of 0.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CTIC shares. Cowen initiated coverage on CTI BioPharma in a research report on Thursday, July 7th. They set an “outperform” rating and a $10.00 price target on the stock. JMP Securities restated a “buy” rating and set a $6.00 price target on shares of CTI BioPharma in a report on Monday, June 6th. Cowen initiated coverage on CTI BioPharma in a research report on Thursday, July 7th. They set an “outperform” rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of CTI BioPharma in a research report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.29.

Insider Activity at CTI BioPharma

In related news, Director Michael A. Metzger sold 91,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $6.08, for a total value of $556,320.00. Following the transaction, the director now directly owns 20,121 shares of the company’s stock, valued at approximately $122,335.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael A. Metzger sold 91,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $6.08, for a total value of $556,320.00. Following the transaction, the director now directly owns 20,121 shares of the company’s stock, valued at approximately $122,335.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam R. Craig sold 27,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $6.00, for a total value of $162,000.00. Following the completion of the transaction, the chief executive officer now directly owns 16,678 shares in the company, valued at $100,068. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,621 shares of company stock valued at $1,600,908. 10.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CTI BioPharma

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in CTI BioPharma by 354.5% during the 1st quarter. Bank of America Corp DE now owns 5,900 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 4,602 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in CTI BioPharma during the 1st quarter valued at $73,000. UBS Group AG raised its stake in CTI BioPharma by 316.6% during the 1st quarter. UBS Group AG now owns 16,734 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 12,717 shares during the last quarter. Walleye Capital LLC purchased a new stake in CTI BioPharma during the 1st quarter valued at $142,000. Finally, Citigroup Inc. purchased a new stake in shares of CTI BioPharma in the 1st quarter worth $385,000. 47.75% of the stock is currently owned by hedge funds and other institutional investors.

About CTI BioPharma

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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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