CTI BioPharma (NASDAQ:CTIC) Upgraded to “Hold” at StockNews.com

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

Separately, SVB Leerink initiated coverage on CTI BioPharma in a research report on Monday, October 17th. They issued an outperform rating and a $13.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $11.00.

CTI BioPharma Price Performance

Shares of CTI BioPharma stock opened at $5.41 on Tuesday. CTI BioPharma has a one year low of $1.82 and a one year high of $7.80. The firm has a market capitalization of $686.50 million, a price-to-earnings ratio of -4.96 and a beta of 0.85. The business has a 50-day simple moving average of $5.66 and a 200 day simple moving average of $5.83.

CTI BioPharma (NASDAQ:CTICGet Rating) last issued its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $18.24 million during the quarter, compared to the consensus estimate of $18.13 million. On average, sell-side analysts expect that CTI BioPharma will post -0.72 EPS for the current year.

Insiders Place Their Bets

In other CTI BioPharma news, CFO David Kirske sold 27,021 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $6.01, for a total value of $162,396.21. Following the completion of the sale, the chief financial officer now directly owns 17,127 shares of the company’s stock, valued at approximately $102,933.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Adam R. Craig sold 84,683 shares of CTI BioPharma stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $6.01, for a total transaction of $508,944.83. Following the sale, the chief executive officer now directly owns 29,440 shares in the company, valued at approximately $176,934.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David Kirske sold 27,021 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $6.01, for a total transaction of $162,396.21. Following the transaction, the chief financial officer now owns 17,127 shares of the company’s stock, valued at approximately $102,933.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,204 shares of company stock valued at $1,181,911. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in shares of CTI BioPharma by 11.9% in the 2nd quarter. Victory Capital Management Inc. now owns 14,237 shares of the biopharmaceutical company’s stock worth $85,000 after purchasing an additional 1,518 shares during the period. Bank of America Corp DE increased its position in 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 buying an additional 4,602 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of CTI BioPharma by 43.7% in the third quarter. Prudential Financial Inc. now owns 17,415 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 5,300 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of CTI BioPharma by 23.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 35,939 shares of the biopharmaceutical company’s stock valued at $210,000 after buying an additional 6,900 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of CTI BioPharma by 44.0% during the 3rd quarter. Kestra Advisory Services LLC now owns 25,200 shares of the biopharmaceutical company’s stock worth $147,000 after acquiring an additional 7,695 shares during the period. 99.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

Analyst Recommendations for CTI BioPharma (NASDAQ:CTIC)

Receive News & Ratings for CTI BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTI BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.