$650,000.00 in Sales Expected for CTI BioPharma Corp (CTIC) This Quarter

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.

Several equities analysts recently weighed in on CTIC shares. Oppenheimer set a $4.00 price objective on CTI BioPharma and gave the stock a “buy” rating in a research report on Friday, November 2nd. Cann reissued a “buy” rating and set a $4.00 price objective on shares of CTI BioPharma in a research report on Friday, November 2nd. Jefferies Financial Group reissued a “buy” rating and set a $4.00 price objective on shares of CTI BioPharma in a research report on Friday, July 20th. Zacks Investment Research raised CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, ValuEngine raised CTI BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $5.50.

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.

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