Wall Street analysts expect CTI BioPharma Corp (NASDAQ:CTIC) to announce $650,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for CTI BioPharma’s earnings. The lowest sales estimate is $500,000.00 and the highest is $800,000.00. CTI BioPharma posted sales of $460,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 41.3%. The business is expected to report its next earnings report on Wednesday, March 6th.
According to Zacks, analysts expect that CTI BioPharma will report full year sales of $12.45 million for the current financial year, with estimates ranging from $12.30 million to $12.60 million. For the next financial year, analysts forecast that the firm will report sales of $12.85 million, with estimates ranging from $10.70 million to $15.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow CTI BioPharma.
CTI BioPharma (NASDAQ:CTIC) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.06). CTI BioPharma had a negative return on equity of 85.84% and a negative net margin of 361.97%. The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $0.60 million.
Institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC bought a new position in CTI BioPharma during the second quarter valued at about $137,000. Rhumbline Advisers bought a new position in CTI BioPharma during the second quarter valued at about $243,000. Alps Advisors Inc. bought a new position in CTI BioPharma during the second quarter valued at about $419,000. Northern Trust Corp increased its stake in CTI BioPharma by 181.5% during the first quarter. Northern Trust Corp now owns 109,024 shares of the biopharmaceutical company’s stock valued at $425,000 after acquiring an additional 70,299 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new position in CTI BioPharma during the second quarter valued at about $547,000. Hedge funds and other institutional investors own 69.49% of the company’s stock.
Shares of NASDAQ CTIC remained flat at $$1.68 during trading hours on Wednesday. The company had a trading volume of 1,055,800 shares, compared to its average volume of 434,372. CTI BioPharma has a fifty-two week low of $1.64 and a fifty-two week high of $5.36. The company has a quick ratio of 3.58, a current ratio of 3.58 and a debt-to-equity ratio of 0.20. The firm has a market cap of $97.42 million, a PE ratio of -1.35 and a beta of -0.37.
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.
Read More: Understanding Analyst Recommendations
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CTI BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTI BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.