Needham analyst Chad Messer assigned a Buy rating to CTI BioPharma (CTIC) today and set a price target of $6.00. The company’s shares closed last Tuesday at $3.31, close to its 52-week high of $3.68.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.7% and a 46.6% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.
Currently, the analyst consensus on CTI BioPharma is a Strong Buy with an average price target of $6.25.
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Based on CTI BioPharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14 million. In comparison, last year the company earned revenue of $416K and had a GAAP net loss of $10.97 million.
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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.
