CTI BioPharma (NASDAQ:CTIC) Lowered to “Hold” at Stifel Nicolaus

Stifel Nicolaus lowered shares of CTI BioPharma (NASDAQ:CTIC – Get Rating) from a buy rating to a hold rating in a research note released on Monday morning, The Fly reports.

Other equities analysts have also issued reports about the company. Needham & Company LLC lowered CTI BioPharma from a buy rating to a hold rating in a research report on Wednesday, May 10th. Lake Street Capital lowered CTI BioPharma from a buy rating to a hold rating in a research report on Wednesday, May 10th. StockNews.com raised CTI BioPharma from a sell rating to a hold rating in a research report on Tuesday, March 14th. JMP Securities lowered CTI BioPharma from an outperform rating to a market perform rating in a research report on Thursday, May 11th. Finally, TD Cowen reduced their price objective on CTI BioPharma from $10.00 to $8.00 and set an outperform rating for the company in a research note on Monday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $10.29.

CTI BioPharma Stock Down 0.3 %

Shares of NASDAQ:CTIC opened at $8.93 on Monday. CTI BioPharma has a twelve month low of $4.01 and a twelve month high of $8.96. The stock’s 50 day moving average is $4.92 and its 200-day moving average is $5.35. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -10.51 and a beta of 0.86.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last issued its earnings results on Monday, March 6th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The firm had revenue of $21.08 million during the quarter, compared to the consensus estimate of $24.88 million. During the same quarter last year, the firm earned ($0.38) earnings per share. Equities research analysts anticipate that CTI BioPharma will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of 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 worth $28,000 after acquiring an additional 4,602 shares during the period. Shell Asset Management Co. bought a new position in CTI BioPharma in the 4th quarter worth about $47,000. Legal & General Group Plc bought a new position in CTI BioPharma in the 2nd quarter worth about $49,000. Lazard Asset Management LLC bought a new position in CTI BioPharma in the 3rd quarter worth about $57,000. Finally, Simplicity Solutions LLC bought a new position in CTI BioPharma in the 1st quarter worth about $43,000. Institutional investors own 99.40% of the company’s stock.

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.