CTI BioPharma (CTIC) Plunges 24%

CTI BioPharma Corp. (CTIC) shares are trading lower by over 24% to $1.97 in midday trading after the company recorded Q4 EPS of ($0.27) vs ($0.22) consensus on revenues of $17.8 million, and reported additional data from the phase III study of its myelofibrosis drug pacritinib into its 10-K filed Thursday night. Approximately 23 million shares have already changed hands, compared to the stock’s average daily volume of 3.81 million shares.

During today’s trading session, CTIC opened sharply lower and kept printing lower lows for the majority of the morning, before settling into an intraday range of $1.96 to $2.04 with its 52-week range being $1.93 to $4.22.

Fundamentally, CTIC shows the following financial data:

  • $29.91 million in cash in most recent quarter
  • $93.72 million t-12 total assets
  • $42.76 million total equity
  • $75.17 million t-12 revenue
  • ($42.74) million annual net income
  • ($37.49) million free cash flow

On valuation measures, CTI BioPharma Corp. shares have a T-12 price/sales ratio of 5.02 and a price/book for the same period of 19.85. EPS is ($0.28). The name has a market cap of $457.24 million and a median Wall Street price target of $6.00 with a high target of $8.00. Currently there are 5 analysts that rate CTIC a ‘Buy’. No analyst rates it a ‘Hold’ or a ‘Sell’.

In terms of share statistics, CTI BioPharma Corp. has a total of 179.79 million shares outstanding with 16.77% held by insiders and 28.90% held by institutions. The stock’s short interest currently stands at 7.45%, bringing the total number of shares sold short to 11.51 million.

Shares of the Seattle, Washington-based company are down 36.59% year-over-year ; up 10.17% year-to-date.

CTI BioPharma Corp. is a biopharmaceutical company focused on the development and commercialization of treatments for cancer. The firm was founded in 1991 and is headquartered in Seattle, Washington.

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