CTI Biopharma: 17% Pullback In The Shares Makes For A Good Entry Point, Says Roth Capital

In a research note published yesterday, Roth Capital analyst Debjit Chattopadhyay reiterated coverage with a Buy rating on shares of CTI Biophrarma Corp. (CTIC) and a $4 price target, which represents a potential upside of 49% from where the stock is currently trading.

Chattopadhyay wrote, “With pivotal data roll out during 1Q-15, the recent 17% pullback in the shares of CTIC offers an attractive entry point, in our opinion. We believe that pacritinib’s superior tolerability profile is a key commercial differentiator, and model peak sales of $1.02B. Pacritinib alone supports CTIC’s current valuation, according to our analysis, and we view the rest of the pipeline as a free call option”.

“PERSIST-1 study is fully enrolled. CTIC and Baxter (BAX-NC) may opt for a rolling NDA submission strategy, and we anticipate approval during 4Q-15 and a robust commercial launch targeting high-risk patients prior to a move upstream. We model peak global sales of $1.02B (U.S. sales $519M, and ex-U.S. sales of $507M)”, the analyst concluded.

According to TipRanks.com, which measures analysts and bloggers success rate based on how their calls perform, analyst Debjit Chattopadhyay has a 5.6% average return and a 33% success rate. Chattopadhyay has a -9.5% average return when recommending CTIC, and is ranked #1834 out of 3209 analysts.

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