In a report released yesterday, Leah R. Cann from Oppenheimer maintained a Buy rating on CTI BioPharma (NASDAQ: CTIC), with a price target of $4. The company’s shares closed yesterday at $2.21, close to its 52-week low of $2.16.
Cann said:
“CTI BioPharma Q2 2018 results released today were in line with expectations. Total revenue of $0.6 million was higher than our estimated $0.1 million. All revenue was License and Contract Revenue. Total operating expenses of $14.0 million were in line with our estimated $13.9 million. CTI BioPharma lost $0.20 per share compared to our estimated loss per share of $0.22.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 24.5% and a 55.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Currently, the analyst consensus on CTI BioPharma is a Strong Buy with an average price target of $5.33, representing a 141.2% upside. In a report issued on July 19, Jefferies also reiterated a Buy rating on the stock with a $4 price target.
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The company has a one-year high of $5.36 and a one-year low of $2.16. Currently, CTI BioPharma has an average volume of 639.4K.
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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.
