Needham analyst Chad Messer reiterated a Buy rating on CTI BioPharma (CTIC) today and set a price target of $6.00. The company’s shares closed last Wednesday at $2.34.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 7.9% and a 45.4% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.
CTI BioPharma has an analyst consensus of Strong Buy, with a price target consensus of $6.43.
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Based on CTI BioPharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $17.27 million. In comparison, last year the company had a GAAP net loss of $12.19 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTIC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
