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Needham Believes CTI BioPharma (CTIC) Still Has Room to Grow

Needham analyst Gil Blum reiterated a Buy rating on CTI BioPharma (CTICResearch Report) today and set a price target of $8.00. The company’s shares closed last Thursday at $4.67, close to its 52-week high of $5.25.

According to TipRanks.com, Blum is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -28.1% and a 20.6% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Crispr Therapeutics AG, and Aeglea Biotherapeutics.

CTI BioPharma has an analyst consensus of Strong Buy, with a price target consensus of $8.12, a 61.1% 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 $451.6M and has a P/E ratio of -5.20.

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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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