CTI BioPharma Corp. [CTIC] stock Initiated by BTIG Research analyst, price target now $7


CTI BioPharma Corp. [NASDAQ: CTIC] stock went on an upward path that rose over 5.43% on Tuesday, amounting to a one-week price increase of more than 8.90%. The company report on April 28, 2022 that CTI BioPharma to Report First Quarter 2022 Financial Results on May 12, 2022.

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CTI BioPharma Corp. (CTI BioPharma) (NASDAQ: CTIC) today announced that management plans to report its first quarter 2022 financial results on Thursday, May 12, 2022, after the close of the U.S. financial markets. Following the announcement, members of the management team will host a conference call and webcast to discuss the results and provide a general corporate update at 4:30 p.m. ET (1:30 p.m. PT).

To access the live call by phone please dial (877) 735-2860 (domestic) or (602) 563-8791 (international); the conference ID is 7291915. A live audio webcast of the event may also be accessed through the “Investors” section of CTI’s website at www.ctibiopharma.com. A replay of the webcast will be available for 30 days following the event.

Over the last 12 months, CTIC stock rose by 138.56%. The one-year CTI BioPharma Corp. stock forecast points to a potential upside of 40.61. The average equity rating for CTIC stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $546.45 million, with 97.75 million shares outstanding and 72.44 million shares in the current float. Compared to the average trading volume of 5.78M shares, CTIC stock reached a trading volume of 4446125 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.42 The Price to Book ratio for the last quarter was 140.75, with the Price to Cash per share for the same quarter was set at 0.67.

CTIC Stock Performance Analysis:

CTI BioPharma Corp. [CTIC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.90. With this latest performance, CTIC shares gained by 29.43% in over the last four-week period, additionally plugging by 113.26% over the last 6 months – not to mention a rise of 138.56% 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 64.71, with the RSI for the last a single of trading hit 68.01, and the three-weeks RSI is set at 63.31 for CTI BioPharma Corp. [CTIC]. The present Moving Average for the last 50 days of trading for this stock 4.36, while it was recorded at 5.26 for the last single week of trading, and 2.97 for the last 200 days.

Insight into CTI BioPharma Corp. 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 Position Details

There are presently around $256 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 $46.99 million in CTIC stocks shares; and NEA MANAGEMENT COMPANY, LLC, currently with $38.13 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 36 institutional holders increased their position in CTI BioPharma Corp. [NASDAQ:CTIC] by around 7,940,085 shares. Additionally, 26 investors decreased positions by around 14,221,981 shares, while 15 investors held positions by with 25,758,539 shares. The mentioned changes placed institutional holdings at 47,920,605 shares, according to the latest SEC report filing. CTIC stock had 18 new institutional investments in for a total of 3,737,751 shares, while 11 institutional investors sold positions of 10,007,433 shares during the same period.