Needham Maintains Their Buy Rating on CTI BioPharma (CTIC)

By Carrie Williams

In a report released today, Chad Messer from Needham maintained a Buy rating on CTI BioPharma (CTICResearch Report), with a price target of $4.00. The company’s shares closed last Monday at $0.89.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.2% and a 44.1% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Aerpio Pharmaceuticals.

Currently, the analyst consensus on CTI BioPharma is a Moderate Buy with an average price target of $4.00.

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Based on CTI BioPharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.05 million. In comparison, last year the company had a GAAP net loss of $14.81 million.

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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.