Market Analysts see CTI BioPharma Corp. [CTIC] gaining to $7. Time to buy?


CTI BioPharma Corp. [NASDAQ: CTIC] surged by $0.12 during the normal trading session on Wednesday and reaching a high of $5.38 during the day while it closed the day at $5.29. The company report on April 14, 2022 that NCCN Guidelines® Recommend VONJO™ (pacritinib) for the Treatment of Myeloproliferative Neoplasms.

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VONJO is the only approved JAK inhibitor recommended by NCCN for myelofibrosis patients regardless of platelet count .

CTI BioPharma Corp. (Nasdaq: CTIC) today announced that VONJO™ (pacritinib), its novel oral kinase inhibitor with specificity for JAK2 and IRAK1, without inhibiting JAK1, has been included as a recommended treatment in the latest National Comprehensive Cancer Network® (NCCN®) Clinical Practice Guidelines in Oncology for Myeloproliferative Neoplasms.

CTI BioPharma Corp. stock has also gained 8.85% of its value over the past 7 days. However, CTIC stock has inclined by 171.28% in the 3 months of the year. Over the past six months meanwhile, it has gained 100.38% and gained 113.31% year-on date.

The market cap for CTIC stock reached $521.54 million, with 97.75 million shares outstanding and 72.44 million shares in the current float. Compared to the average trading volume of 5.54M shares, CTIC reached a trading volume of 4809462 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about CTI BioPharma Corp. [CTIC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTIC shares is $9.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTIC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BTIG Research have made an estimate for CTI BioPharma Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 09, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on May 06, 2021, representing the official price target for CTI BioPharma Corp. stock. Previously, the target price had yet another raise to $3, while JMP Securities analysts kept a Mkt Outperform rating on CTIC stock.

The Average True Range (ATR) for CTI BioPharma Corp. is set at 0.38 The Price to Book ratio for the last quarter was 132.25, with the Price to Cash per share for the same quarter was set at 0.66.

CTIC stock trade performance evaluation

CTI BioPharma Corp. [CTIC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.85. With this latest performance, CTIC shares gained by 8.18% in over the last four-week period, additionally plugging by 100.38% over the last 6 months – not to mention a rise of 109.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTIC stock in for the last two-week period is set at 62.67, with the RSI for the last a single of trading hit 65.41, and the three-weeks RSI is set at 61.87 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 4.12, while it was recorded at 5.10 for the last single week of trading, and 2.91 for the last 200 days.

CTI BioPharma Corp. [CTIC]: An insightful look at the core fundamentals

Return on Equity for this stock declined to -447.11, with Return on Assets sitting at -149.85.

CTI BioPharma Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

CTI BioPharma Corp. [CTIC]: Insider Ownership positions

There are presently around $247 million, or 50.10% of CTIC stock, in the hands of institutional investors. The top three institutional holders of CTIC stocks are: BVF INC/IL with ownership of 8,929,690, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; STONEPINE CAPITAL MANAGEMENT, LLC, holding 8,800,358 shares of the stock with an approximate value of $45.5 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $36.92 million in CTIC stock with ownership of nearly 0% of the company’s market capitalization.

Positions in CTI BioPharma Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 37 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 7,975,046 shares. Additionally, 27 investors decreased positions by around 14,246,981 shares, while 13 investors held positions by with 25,622,223 shares. The mentioned changes placed institutional holdings at 47,844,250 shares, according to the latest SEC report filing. CTIC stock had 20 new institutional investments in for a total of 3,849,067 shares, while 11 institutional investors sold positions of 10,007,433 shares during the same period.