Stock Update (NASDAQ:CTIC): CTI BioPharma Corp Announces Data Presentations at the 57th ASH Annual Meeting
CTI BioPharma Corp (NASDAQ:CTIC) announced that data highlighting two compounds (pacritinib and tosedostat) from the company’s investigational pipeline will be presented at the upcoming 57th American Society of Hematology (ASH) Annual Meeting and Exposition, being held December 5-8 in Orlando, FL – including three oral presentations.
The presentations will include data analyses from the Phase 3 PERSIST-1 trial of pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1 and CSF1R that is currently under investigation for the treatment of patients with myelofibrosis and acute myeloid leukemia (AML) as well as findings from a Phase 2 study of tosedostat, an investigational oral selective inhibitor of aminopeptidases that has demonstrated anti-tumor responses in blood-related cancers and solid tumors in Phase 1-2 clinical trials.
“We look forward to the presentation of data for both pacritinib and tosedostat at this year’s ASH annual meeting,” said James A. Bianco, M.D., President and CEO of CTI BioPharma. “With six abstracts accepted, the data involving two of our investigational compounds is a further example of our focused commitment on advancing the development of our pipeline candidates.” (Original Source)
Shares of CTI BioPharma closed yesterday at $1.37. CTIC has a 1-year high of $2.94 and a 1-year low of $1.32. The stock’s 50-day moving average is $1.54 and its 200-day moving average is $1.77.
On the ratings front, CTIC has been the subject of a number of recent research reports. In a report issued on November 2, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on CTIC, with a price target of $8, which represents a potential upside of 483.9% from where the stock is currently trading. Separately, on August 11, Roth Capital’s Debjit Chattopadhyay maintained a Buy rating on the stock and has a price target of $4.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Debjit Chattopadhyay have a total average return of 12.4% and 8.8% respectively. Duncan has a success rate of 46.6% and is ranked #447 out of 3827 analysts, while Chattopadhyay has a success rate of 49.2% and is ranked #334.