CTI BioPharma Corp (NASDAQ:CTIC) shares saw strong trading volume on Friday . 5,420,700 shares traded hands during trading, an increase of 1,301% from the previous session’s volume of 386,918 shares.The stock last traded at $5.08 and had previously closed at $4.90.

A number of analysts recently issued reports on the company. BidaskClub raised CTI BioPharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 16th. ValuEngine upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. JMP Securities initiated coverage on CTI BioPharma in a report on Wednesday, March 7th. They set an “outperform” rating and a $8.00 target price on the stock. Cann restated a “buy” rating and set a $5.00 target price on shares of CTI BioPharma in a report on Wednesday, March 7th. Finally, Zacks Investment Research upgraded CTI BioPharma from a “sell” rating to a “hold” rating in a report on Wednesday, April 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.42.

The company has a quick ratio of 5.30, a current ratio of 5.32 and a debt-to-equity ratio of 0.17.

CTI BioPharma (NASDAQ:CTIC) last posted its earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. CTI BioPharma had a negative return on equity of 63.27% and a negative net margin of 71.30%. The company had revenue of $10.48 million for the quarter, compared to analyst estimates of $10.30 million. equities analysts expect that CTI BioPharma Corp will post -0.95 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Spark Investment Management LLC raised its holdings in CTI BioPharma by 241.9% during the first quarter. Spark Investment Management LLC now owns 40,000 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 28,300 shares in the last quarter. Barclays PLC increased its stake in shares of CTI BioPharma by 9,349.0% in the first quarter. Barclays PLC now owns 49,324 shares of the biopharmaceutical company’s stock worth $192,000 after purchasing an additional 48,802 shares during the period. Element Capital Management LLC bought a new position in shares of CTI BioPharma in the first quarter worth about $205,000. Northern Trust Corp increased its stake in shares of CTI BioPharma by 181.5% in the first quarter. Northern Trust Corp now owns 109,024 shares of the biopharmaceutical company’s stock worth $425,000 after purchasing an additional 70,299 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of CTI BioPharma in the fourth quarter worth about $472,000. Institutional investors own 62.78% of the company’s stock.

CTI BioPharma Company Profile

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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