-$0.28 EPS Expected for CTI BioPharma Corp (CTIC) This Quarter

Equities research analysts predict that CTI BioPharma Corp (NASDAQ:CTIC) will report earnings of ($0.28) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for CTI BioPharma’s earnings, with the highest EPS estimate coming in at ($0.23) and the lowest estimate coming in at ($0.32). CTI BioPharma posted earnings per share of ($0.30) during the same quarter last year, which suggests a positive year-over-year growth rate of 6.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that CTI BioPharma will report full year earnings of ($0.85) per share for the current year, with EPS estimates ranging from ($0.91) to ($0.78). For the next financial year, analysts anticipate that the business will post earnings of ($0.92) per share, with EPS estimates ranging from ($1.09) to ($0.74). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow CTI BioPharma.

CTI BioPharma (NASDAQ:CTIC) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.26) EPS 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 firm had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.60 million.

CTIC has been the subject of a number of recent research reports. Oppenheimer set a $4.00 target price on CTI BioPharma and gave the company a “buy” rating in a report on Friday, November 2nd. Cann reiterated a “buy” rating and issued a $4.00 target price on shares of CTI BioPharma in a report on Friday, November 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $4.00 target price on shares of CTI BioPharma in a report on Friday, July 20th. BidaskClub lowered CTI BioPharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 14th. Finally, Zacks Investment Research upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. CTI BioPharma currently has an average rating of “Buy” and a consensus target price of $5.50.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in CTI BioPharma by 546.2% in the second quarter. BlackRock Inc. now owns 2,803,182 shares of the biopharmaceutical company’s stock valued at $13,958,000 after buying an additional 2,369,398 shares in the last quarter. Millennium Management LLC acquired a new stake in CTI BioPharma in the first quarter valued at $3,068,000. Northern Trust Corp raised its stake in CTI BioPharma by 434.3% in the second quarter. Northern Trust Corp now owns 582,522 shares of the biopharmaceutical company’s stock valued at $2,900,000 after buying an additional 473,498 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CTI BioPharma by 68.1% in the third quarter. JPMorgan Chase & Co. now owns 568,732 shares of the biopharmaceutical company’s stock valued at $1,229,000 after buying an additional 230,386 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in CTI BioPharma in the second quarter valued at $1,086,000. Hedge funds and other institutional investors own 69.48% of the company’s stock.

NASDAQ:CTIC traded down $0.08 during midday trading on Monday, reaching $1.71. The company had a trading volume of 166,167 shares, compared to its average volume of 179,648. The firm has a market cap of $100.32 million, a PE ratio of -1.38 and a beta of -0.37. CTI BioPharma has a 12-month low of $1.66 and a 12-month high of $5.36. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 0.20.

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

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