CTI BioPharma - CTIC Stock Forecast, Price & News

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. It has license and collaboration agreement with Teva Pharmaceutical Industries Ltd.; S*BIO Pte Ltd.; and Baxalta. The company was formerly known as Cell Therapeutics, Inc. and changed its name to CTI BioPharma Corp. in May 2014. CTI BioPharma Corp. was incorporated in 1991 and is headquartered in Seattle, Washington.

CTI BioPharma Price Performance

CTIC opened at $5.67 on Tuesday. The stock's 50 day simple moving average is $6.21 and its 200 day simple moving average is $4.85. The firm has a market cap of $648.56 million, a price-to-earnings ratio of -4.65 and a beta of 0.86. CTI BioPharma has a 1 year low of $1.43 and a 1 year high of $7.80.

CTI BioPharma (NASDAQ:CTIC - Get Rating) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.01). During the same period in the previous year, the company posted ($0.21) EPS. As a group, sell-side analysts anticipate that CTI BioPharma will post -0.78 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTIC shares. Cowen initiated coverage on CTI BioPharma in a research note on Thursday, July 7th. They set an "outperform" rating and a $10.00 price target for the company. Cowen began coverage on CTI BioPharma in a research report on Thursday, July 7th. They issued an "outperform" rating and a $10.00 target price for the company. Needham & Company LLC increased their price target on shares of CTI BioPharma from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Tuesday, August 9th. Finally, JMP Securities lifted their price target on shares of CTI BioPharma from $6.00 to $9.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.33.

Insider Buying and Selling at CTI BioPharma

In related news, Director Michael A. Metzger sold 91,500 shares of the firm's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $6.08, for a total value of $556,320.00. Following the sale, the director now directly owns 20,121 shares of the company's stock, valued at $122,335.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CTI BioPharma news, CFO David Kirske sold 10,000 shares of the company's stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $5.50, for a total value of $55,000.00. Following the completion of the transaction, the chief financial officer now directly owns 7,397 shares in the company, valued at approximately $40,683.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Metzger sold 91,500 shares of the firm's stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $6.08, for a total transaction of $556,320.00. Following the completion of the sale, the director now directly owns 20,121 shares of the company's stock, valued at $122,335.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,473,187 shares of company stock worth $45,729,572. 10.20% of the stock is currently owned by company insiders.