Jefferies Group LLC Initiates Coverage on CTI BioPharma Corp. (CTIC)

Jefferies Group LLC started coverage on shares of CTI BioPharma Corp. (NASDAQ:CTIC) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $7.50 price target on the biopharmaceutical company’s stock. Jefferies Group also issued estimates for CTI BioPharma Corp.’s Q3 2017 earnings at ($0.32) EPS, Q4 2017 earnings at ($0.31) EPS, FY2017 earnings at ($1.26) EPS, Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at ($0.31) EPS, Q3 2018 earnings at ($0.66) EPS, Q4 2018 earnings at ($0.55) EPS, FY2018 earnings at ($1.87) EPS, FY2019 earnings at ($0.71) EPS, FY2020 earnings at ($0.25) EPS and FY2021 earnings at $0.26 EPS.

Shares of CTI BioPharma Corp. (NASDAQ CTIC) opened at 3.32 on Tuesday. The firm’s market cap is $105.33 million. CTI BioPharma Corp. has a 52 week low of $0.36 and a 52 week high of $6.48. The stock has a 50 day moving average of $3.34 and a 200 day moving average of $3.76.

CTI BioPharma Corp. (NASDAQ:CTIC) last issued its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.63. CTI BioPharma Corp. had a negative return on equity of 418.99% and a negative net margin of 136.76%. The company had revenue of $22.23 million for the quarter. Analysts anticipate that CTI BioPharma Corp. will post ($1.26) earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in CTIC. Stonepine Capital Management LLC acquired a new stake in CTI BioPharma Corp. in the second quarter valued at about $7,561,000. Acadian Asset Management LLC acquired a new stake in CTI BioPharma Corp. in the first quarter valued at about $181,000. WASHINGTON TRUST Co acquired a new stake in shares of CTI BioPharma Corp. during the second quarter valued at about $104,000. Nine Chapters Capital Management LLC boosted its stake in shares of CTI BioPharma Corp. by 152.9% during the first quarter. Nine Chapters Capital Management LLC now owns 43,500 shares of the biopharmaceutical company’s stock valued at $183,000 after purchasing an additional 26,300 shares in the last quarter. Finally, Segantii Capital Management Ltd acquired a new stake in shares of CTI BioPharma Corp. during the first quarter valued at about $102,000. 42.87% of the stock is currently owned by institutional investors and hedge funds.

About CTI BioPharma Corp.

CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL).

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