CTI BioPharma (CTIC) Gets a Buy Rating from Oppenheimer

By Jason Carr

In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on CTI BioPharma (CTICResearch Report), with a price target of $4. The company’s shares closed yesterday at $0.84, close to its 52-week low of $0.60.

Cann observed:

“Completion of enrollment of the 150 patients in the PAC203 study is in line with our expectations. Development of pacritinib continues to be on track with our expectations. Based on the timing of a planned phase III registration study that is being informed by the PAC203 study, the completion of enrollment in PAC203 is very important. We continue to anticipate pacritinib will launch in 2022, and our financial outlook is unchanged for CTI BioPharma.”

According to TipRanks.com, Cann is a 1-star analyst with an average return of -1.2% and a 38.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.

CTI BioPharma has an analyst consensus of Moderate Buy, with a price target consensus of $6.

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The company has a one-year high of $5.36 and a one-year low of $0.60. Currently, CTI BioPharma has an average volume of 241.3K.

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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.