CTI BioPharma Corp. (NASDAQ:CTIC – Get Rating) – Analysts at Brookline Capital Management cut their Q2 2023 earnings per share estimates for shares of CTI BioPharma in a note issued to investors on Monday, May 15th. Brookline Capital Management analyst L. Cann now anticipates that the biopharmaceutical company will post earnings per share of ($0.06) for the quarter, down from their prior estimate of ($0.05). The consensus estimate for CTI BioPharma’s current full-year earnings is ($0.25) per share. Brookline Capital Management also issued estimates for CTI BioPharma’s Q3 2023 earnings at ($0.05) EPS, Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.24) EPS, FY2024 earnings at $0.04 EPS and FY2025 earnings at $0.47 EPS.
Other research analysts also recently issued research reports about the stock. TD Cowen decreased their price target on shares of CTI BioPharma from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Monday, April 17th. Needham & Company LLC downgraded CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Lake Street Capital cut CTI BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. StockNews.com initiated coverage on CTI BioPharma in a research note on Thursday. They issued a “hold” rating for the company. Finally, SVB Securities cut shares of CTI BioPharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.29.
CTI BioPharma Price Performance
CTI BioPharma (NASDAQ:CTIC – Get Rating) last released its quarterly earnings data on Monday, March 6th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $21.08 million for the quarter, compared to the consensus estimate of $24.88 million. During the same period last year, the firm earned ($0.38) earnings per share.
Hedge Funds Weigh In On CTI BioPharma
A number of hedge funds have recently made changes to their positions in CTIC. Perceptive Advisors LLC bought a new position in shares of CTI BioPharma in the third quarter worth $4,279,000. Altium Capital Management LP bought a new stake in CTI BioPharma during the 3rd quarter valued at approximately $2,485,000. Ghost Tree Capital LLC grew its position in CTI BioPharma by 150.0% in the 3rd quarter. Ghost Tree Capital LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock worth $11,640,000 after purchasing an additional 1,200,000 shares during the last quarter. Prudential Financial Inc. increased its position in shares of CTI BioPharma by 43.7% during the third quarter. Prudential Financial Inc. now owns 17,415 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 5,300 shares during the period. Finally, E Fund Management Co. Ltd. increased its stake in CTI BioPharma by 49.8% in the third quarter. E Fund Management Co. Ltd. now owns 75,133 shares of the biopharmaceutical company’s stock valued at $437,000 after acquiring an additional 24,962 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.
About CTI BioPharma
CTI BioPharma Corp. is a biopharmaceutical company, which engages in the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. It focuses on evaluating pacritinib, its sole product candidate currently in active development, for the treatment of adult patients with myelofibrosis.
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