Zacks: Brokerages Anticipate CTI BioPharma Corp (CTIC) Will Post Quarterly Sales of $600,000.00
Wall Street analysts predict that CTI BioPharma Corp (NASDAQ:CTIC) will report sales of $600,000.00 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for CTI BioPharma’s earnings, with the lowest sales estimate coming in at $500,000.00 and the highest estimate coming in at $700,000.00. CTI BioPharma posted sales of $1.71 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 64.9%. The business is expected to announce its next quarterly earnings report on Monday, November 5th.
On average, analysts expect that CTI BioPharma will report full year sales of $12.35 million for the current fiscal year, with estimates ranging from $12.10 million to $12.60 million. For the next fiscal year, analysts anticipate that the company will post sales of $12.85 million per share, with estimates ranging from $10.70 million to $15.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow CTI BioPharma.
CTI BioPharma (NASDAQ:CTIC) last announced its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. The business had revenue of $0.61 million during the quarter, compared to the consensus estimate of $0.30 million. CTI BioPharma had a negative net margin of 313.77% and a negative return on equity of 90.92%.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of CTI BioPharma by 546.2% during the second quarter. BlackRock Inc. now owns 2,803,182 shares of the biopharmaceutical company’s stock valued at $13,958,000 after acquiring an additional 2,369,398 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of CTI BioPharma during the second quarter valued at approximately $547,000. Bank of New York Mellon Corp raised its stake in shares of CTI BioPharma by 203.7% during the second quarter. Bank of New York Mellon Corp now owns 150,671 shares of the biopharmaceutical company’s stock valued at $750,000 after acquiring an additional 101,055 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of CTI BioPharma during the second quarter valued at approximately $243,000. Finally, Alps Advisors Inc. bought a new stake in shares of CTI BioPharma during the second quarter valued at approximately $419,000. 62.76% of the stock is owned by hedge funds and other institutional investors.
CTI BioPharma traded down $0.13, hitting $1.95, during trading on Monday, according to Marketbeat Ratings. The stock had a trading volume of 958,020 shares, compared to its average volume of 1,055,096. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.28 and a quick ratio of 5.30. The company has a market cap of $124.10 million, a P/E ratio of -1.57 and a beta of -0.32. CTI BioPharma has a one year low of $1.94 and a one year high of $5.36.
About CTI BioPharma
CTI BioPharma Corp., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel targeted therapies for blood-related cancers in the United States and internationally. It develops PIXUVRI, a novel aza-anthracenedione for the treatment of adult patients with multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma; and pacritinib, an investigational oral kinase inhibitor with specificity for JAK2, FLT3, IRAK1, and CSF1R, which is in Phase III clinical trials for the treatment of adult patients with myelofibrosis.
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