$7.30 Million in Sales Expected for CTI BioPharma Corp. (NASDAQ:CTIC) This Quarter

Equities analysts expect that CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) will announce $7.30 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for CTI BioPharma’s earnings, with the highest sales estimate coming in at $8.30 million and the lowest estimate coming in at $6.30 million. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that CTI BioPharma will report full-year sales of $55.60 million for the current fiscal year, with estimates ranging from $52.50 million to $58.70 million. For the next fiscal year, analysts expect that the firm will report sales of $208.85 million, with estimates ranging from $128.00 million to $289.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CTI BioPharma.

CTI BioPharma (NASDAQ:CTIC – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). The firm had revenue of $2.30 million for the quarter, compared to the consensus estimate of $2.15 million.

CTIC has been the subject of several research analyst reports. JMP Securities lifted their target price on shares of CTI BioPharma from $4.00 to $5.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 2nd. StockNews.com initiated coverage on shares of CTI BioPharma in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Needham & Company LLC lifted their price objective on shares of CTI BioPharma from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, March 2nd. Brookline Capital Management lifted their price objective on shares of CTI BioPharma from $7.20 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 1st. Finally, Zacks Investment Research upgraded shares of CTI BioPharma from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 17th. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $9.83.

A number of hedge funds have recently added to or reduced their stakes in CTIC. Bleichroeder LP increased its position in CTI BioPharma by 1,443.9% during the 1st quarter. Bleichroeder LP now owns 3,859,707 shares of the biopharmaceutical company’s stock worth $18,025,000 after purchasing an additional 3,609,707 shares in the last quarter. Invesco Ltd. bought a new stake in CTI BioPharma during the 1st quarter worth approximately $6,555,000. Lion Point Capital LP bought a new stake in CTI BioPharma during the 4th quarter worth approximately $3,034,000. EAM Investors LLC bought a new stake in CTI BioPharma during the 1st quarter worth approximately $4,726,000. Finally, BlackRock Inc. grew its holdings in CTI BioPharma by 100.9% during the 4th quarter. BlackRock Inc. now owns 1,798,830 shares of the biopharmaceutical company’s stock worth $4,462,000 after acquiring an additional 903,439 shares during the last quarter. Institutional investors and hedge funds own 47.75% of the company’s stock.

Shares of CTIC stock opened at $4.69 on Thursday. The company has a market capitalization of $511.07 million, a price-to-earnings ratio of -3.84 and a beta of 0.98. The company has a 50-day simple moving average of $4.65 and a 200 day simple moving average of $3.21. CTI BioPharma has a 52 week low of $1.43 and a 52 week high of $5.76.

About CTI BioPharma (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.

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