$600,000.00 in Sales Expected for CTI BioPharma Corp (CTIC) This Quarter

Analysts expect CTI BioPharma Corp (NASDAQ:CTIC) to report sales of $600,000.00 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CTI BioPharma’s earnings, with the highest sales estimate coming in at $700,000.00 and the lowest estimate coming in at $500,000.00. CTI BioPharma reported sales of $1.71 million in the same quarter last year, which indicates a negative year over year growth rate of 64.9%. The firm is expected to issue its next earnings report on Monday, November 5th.

According to Zacks, analysts expect that CTI BioPharma will report full year sales of $12.35 million for the current fiscal year, with estimates ranging from $12.10 million to $12.60 million. For the next year, analysts anticipate that the firm will report sales of $12.85 million per share, with estimates ranging from $10.70 million to $15.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover CTI BioPharma.

CTI BioPharma (NASDAQ:CTIC) last issued its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. CTI BioPharma had a negative net margin of 313.77% and a negative return on equity of 90.92%. The firm had revenue of $0.61 million during the quarter, compared to analyst estimates of $0.30 million.

Several equities research analysts have issued reports on the stock. ValuEngine upgraded shares of CTI BioPharma from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research downgraded shares of CTI BioPharma from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. BidaskClub downgraded shares of CTI BioPharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 14th. JMP Securities set a $8.00 price objective on shares of CTI BioPharma and gave the stock a “buy” rating in a research note on Tuesday, July 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $4.00 price objective on shares of CTI BioPharma in a research note on Friday, July 20th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $5.83.

CTI BioPharma traded down $0.13, hitting $1.95, on Monday, Marketbeat reports. 958,020 shares of the company were exchanged, compared to its average volume of 1,055,096. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.30 and a current ratio of 4.28. CTI BioPharma has a twelve month low of $1.94 and a twelve month high of $5.36. The firm has a market capitalization of $124.10 million, a price-to-earnings ratio of -1.57 and a beta of -0.32.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTIC. NEA Management Company LLC purchased a new stake in CTI BioPharma during the first quarter worth approximately $14,625,000. Franklin Resources Inc. purchased a new stake in CTI BioPharma during the first quarter worth approximately $13,542,000. BlackRock Inc. grew its stake in CTI BioPharma by 546.2% during the second quarter. BlackRock Inc. now owns 2,803,182 shares of the biopharmaceutical company’s stock worth $13,958,000 after buying an additional 2,369,398 shares during the period. Millennium Management LLC purchased a new position in shares of CTI BioPharma in the first quarter valued at $3,068,000. Finally, Algert Global LLC purchased a new position in shares of CTI BioPharma in the second quarter valued at $1,086,000. Institutional investors own 62.76% of the company’s stock.

CTI BioPharma Company Profile

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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Earnings History and Estimates for CTI BioPharma (NASDAQ:CTIC)

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