In a report released yesterday, Leah R. Cann from Oppenheimer maintained a Buy rating on CTI BioPharma (NASDAQ: CTIC), with a price target of $7. The company’s shares closed on Friday at $5.20, close to its 52-week high of $5.36.
Cann noted:
“We cover CTI BioPharma, a late-stage clinical biotechnology company, with an Outperform rating and are increasing our price target to account for an increased average forward price-to-sales multiple of the biotechnology sector.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 26.5% and a 61.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CTI BioPharma with a $7 average price target.
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The company has a one-year high of $5.36 and a one-year low of $2.45. Currently, CTI BioPharma has an average volume of 347.4K.
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CTI BioPharma Corp. operates as a biopharmaceutical company, which focuses on the development, acquisition, and commercialization of novel targeted therapies for blood-related cancers. Its products include PIXUVRI, Pacritinib, Tosedostat and Opaxio.
