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CTI BioPharma (CTIC) Gets a Buy Rating from Needham

In a report released today, Gil Blum from Needham reiterated a Buy rating on CTI BioPharma (CTICResearch Report), with a price target of $8.00. The company’s shares closed last Tuesday at $3.02.

According to TipRanks.com, Blum has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -39.1% and a 9.9% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Aeglea Biotherapeutics, and Rocket Pharmaceuticals.

Currently, the analyst consensus on CTI BioPharma is a Strong Buy with an average price target of $8.00, implying a 182.7% upside from current levels. In a report released today, Brookline Capital Markets also maintained a Buy rating on the stock with a $12.00 price target.

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CTI BioPharma’s market cap is currently $183.7M and has a P/E ratio of -2.12.

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.

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