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JMP Securities Believes CTI BioPharma (CTIC) Still Has Room to Grow

In a report released yesterday, Reni Benjamin from JMP Securities reiterated a Buy rating on CTI BioPharma (CTICResearch Report), with a price target of $5.00. The company’s shares closed last Monday at $4.78, close to its 52-week high of $5.25.

According to TipRanks.com, Benjamin is ranked 0 out of 5 stars with an average return of -7.9% and a 36.3% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Spectrum Pharmaceuticals, and Iovance Biotherapeutics.

Currently, the analyst consensus on CTI BioPharma is a Strong Buy with an average price target of $8.08, which is an 87.0% upside from current levels. In a report issued on March 24, BTIG also reiterated a Buy rating on the stock with a $10.00 price target.

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CTI BioPharma’s market cap is currently $420.6M and has a P/E ratio of -4.84.

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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.

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