CTI BioPharma (CTIC) Receives a Buy from Needham


In a report released today, Chad Messer from Needham reiterated a Buy rating on CTI BioPharma (CTIC), with a price target of $6.00. The company’s shares closed last Wednesday at $3.30.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 10.8% and a 51.6% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Ionis Pharmaceuticals, and Autolus Therapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CTI BioPharma with a $6.90 average price target, representing an 113.6% upside. In a report released yesterday, Brookline Capital Markets also maintained a Buy rating on the stock with a $7.80 price target.

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CTI BioPharma’s market cap is currently $249.1M and has a P/E ratio of -4.80. The company has a Price to Book ratio of 5.29.

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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. The company was founded by James A. Bianco, Jack W. Singer, and Louis A. Bianco in September 1991 and is headquartered in Seattle, WA.

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