CTI BioPharma (NASDAQ:CTIC) Given “Market Perform” Rating at Lake Street Capital

Lake Street Capital reaffirmed their market perform rating on shares of CTI BioPharma (NASDAQ:CTIC) in a research report report published on Sunday, AnalystRatings.com reports. Lake Street Capital currently has a $4.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also commented on CTIC. JMP Securities assumed coverage on shares of CTI BioPharma in a research note on Wednesday, June 24th. They issued an outperform rating and a $3.00 price target on the stock. Needham & Company LLC assumed coverage on shares of CTI BioPharma in a research note on Monday, April 27th. They issued a buy rating and a $3.50 price target on the stock.

Shares of NASDAQ CTIC opened at $1.42 on Friday. The company has a quick ratio of 5.74, a current ratio of 5.74 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $1.14 and its two-hundred day moving average price is $1.14. CTI BioPharma has a 52-week low of $0.62 and a 52-week high of $1.93. The stock has a market capitalization of $87.68 million, a P/E ratio of -2.03 and a beta of 1.53.

CTI BioPharma (NASDAQ:CTIC) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.07).

Several large investors have recently made changes to their positions in CTIC. Orbimed Advisors LLC increased its stake in shares of CTI BioPharma by 90.4% in the first quarter. Orbimed Advisors LLC now owns 9,520,600 shares of the biopharmaceutical company’s stock valued at $8,759,000 after purchasing an additional 4,520,600 shares during the period. NEA Management Company LLC increased its stake in shares of CTI BioPharma by 90.4% during the first quarter. NEA Management Company LLC now owns 7,140,450 shares of the biopharmaceutical company’s stock valued at $6,569,000 after acquiring an additional 3,390,450 shares during the period. Stonepine Capital Management LLC increased its stake in shares of CTI BioPharma by 71.3% during the first quarter. Stonepine Capital Management LLC now owns 6,430,637 shares of the biopharmaceutical company’s stock valued at $5,916,000 after acquiring an additional 2,675,637 shares during the period. BlackRock Inc. increased its stake in shares of CTI BioPharma by 23.2% during the first quarter. BlackRock Inc. now owns 753,316 shares of the biopharmaceutical company’s stock valued at $693,000 after acquiring an additional 141,810 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of CTI BioPharma by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,967,914 shares of the biopharmaceutical company’s stock valued at $3,109,000 after acquiring an additional 90,025 shares during the period. Institutional investors own 49.71% of the company’s stock.

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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